Imposition of Fines on the Former Responsible Person of Enterex International Limited
2021-09-03
1. Date of sanction: September 3, 2021
2. Objects of sanction: XX Wong, the former responsible person of Enterex International Limited.
3. Legal basis for the sanction: Article 165-1 of the Securities and Exchange Act, with the provisions of sub-paragraph 2, paragraph 3 of Article 36, sub-paragraph 4, paragraph 1 of Article 178 and Article 179, and sub-paragraph 9, Article 7 of the enforcement rules of the same act applicable mutatis mutandis.
4. Facts of violation: Automotive Parts Distribution International, LLC, an important subsidiary of Enterex International Limited (hereinafter referred to as Enterex), applied for bankruptcy and reorganization with the local court of the country where it is registered on July 12, 2021. However, Enterex did not hold a press conference for the announcement until July 20, 2021, This is verified to have violated Article 165-1 of the Securities and Exchange Act, with the provisions of sub-paragraph 2, paragraph 3 of Article 36 of the same act, and sub-paragraph 9, Article 7 of the enforcement rules of the same act applicable mutatis mutandis. A fine is therefore imposed on Enterex, taking into account the fact that it has violated the same provisions twice within one year.
5. Sanction imposed: A fine of NT$480,000 is imposed on the former responsible person of the company in accordance with sub-paragraph 4, paragraph 1 of Article 178 and Article 179 of the Securities and Exchange Act.
Contact unit：Section Chief Tsai, Corporate Finance Division, Securities and Futures Bureau
Tel: 02-2774-7126
If you have any questions, please write to：FSCMAIL
2. Objects of sanction: XX Wong, the former responsible person of Enterex International Limited.
3. Legal basis for the sanction: Article 165-1 of the Securities and Exchange Act, with the provisions of sub-paragraph 2, paragraph 3 of Article 36, sub-paragraph 4, paragraph 1 of Article 178 and Article 179, and sub-paragraph 9, Article 7 of the enforcement rules of the same act applicable mutatis mutandis.
4. Facts of violation: Automotive Parts Distribution International, LLC, an important subsidiary of Enterex International Limited (hereinafter referred to as Enterex), applied for bankruptcy and reorganization with the local court of the country where it is registered on July 12, 2021. However, Enterex did not hold a press conference for the announcement until July 20, 2021, This is verified to have violated Article 165-1 of the Securities and Exchange Act, with the provisions of sub-paragraph 2, paragraph 3 of Article 36 of the same act, and sub-paragraph 9, Article 7 of the enforcement rules of the same act applicable mutatis mutandis. A fine is therefore imposed on Enterex, taking into account the fact that it has violated the same provisions twice within one year.
5. Sanction imposed: A fine of NT$480,000 is imposed on the former responsible person of the company in accordance with sub-paragraph 4, paragraph 1 of Article 178 and Article 179 of the Securities and Exchange Act.
Contact unit：Section Chief Tsai, Corporate Finance Division, Securities and Futures Bureau
Tel: 02-2774-7126
If you have any questions, please write to：FSCMAIL
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Update：
2021-09-08