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Administrative Sanction

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Sanction on President Securities Co., Ltd. for Violation of Securities Management-Related Laws and Regulations

I.    Date of sanction: January 11, 2022
II.   Object of sanction: President Securities Co., Ltd. (hereinafter referred to as President Securities).
III.  Legal basis for the sanction: Article 65 and sub-paragraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act and paragraph 13, Article 37 of the Regulations Governing Securities Firms.
IV.  Fact of violation: The associated person of President Securities accepted the telephone consignment of securities trading not by the customer himself, but by an agent who did not have a power of attorney from the customer; this is verified to have violated paragraph 13, Article 37 of the Regulations Governing Securities Firms.
V.   Sanction imposed: A corrective action is requested of President Securities in accordance with Article 65 of the Securities and Exchange Act and a fine of NT$240,000 is imposed on the firm in accordance with sub-paragraph 4, paragraph 1, Article 178-1 of the same Act.
Contact unit: Section Chief Wu, Securities Firm Division, Securities and Futures Bureau
Tel: 02-2774-7216
If you have any questions, please write to: FSCMAIL
 
Visitor: 1601   Update: 2022-01-17
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