Financial Supervisory Commission (Press Release) Fine Imposition on the Responsible Person of NUUO Inc.
2022-06-10
I. Date of sanction: June 10, 2022
II. Object of sanction: XX Yang, the responsible person of NUUO Inc.
III. Legal basis for the sanction: Subparagraph 2, paragraph 3, Article 36, subparagraph 4, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act, and paragraph 8, Article 7 of the Securities and Exchange Act Enforcement Rules.
IV. Fact of violation: On February 5, 2021, NUUO Inc. signed a contract with its related party Oikid Ltd. to authorize and transfer the operating rights of the "OiKID" English online learning platform. The case involves the signing of an important contract regulated under paragraph 8, Article 7 of the Securities and Exchange Act Enforcement Rules that has a significant impact on shareholders' equity or securities prices, but NUUO Inc. did not file an announcement until July 27, 2021; this is verified to have violated subparagraph 2, paragraph 3, Article 36 of the Securities and Exchange Act.
V. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company in accordance with subparagraph 4, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact unit: Section Chief Ya-Chun Chang, Corporate Finance Division, Securities and Futures Bureau
Tel: (02) 2774-7147
For questions, please write to: FSCMAIL
II. Object of sanction: XX Yang, the responsible person of NUUO Inc.
III. Legal basis for the sanction: Subparagraph 2, paragraph 3, Article 36, subparagraph 4, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act, and paragraph 8, Article 7 of the Securities and Exchange Act Enforcement Rules.
IV. Fact of violation: On February 5, 2021, NUUO Inc. signed a contract with its related party Oikid Ltd. to authorize and transfer the operating rights of the "OiKID" English online learning platform. The case involves the signing of an important contract regulated under paragraph 8, Article 7 of the Securities and Exchange Act Enforcement Rules that has a significant impact on shareholders' equity or securities prices, but NUUO Inc. did not file an announcement until July 27, 2021; this is verified to have violated subparagraph 2, paragraph 3, Article 36 of the Securities and Exchange Act.
V. Sanction imposed: A fine of NT$240,000 is imposed on the responsible person of the company in accordance with subparagraph 4, paragraph 1, Article 178 and Article 179 of the Securities and Exchange Act.
Contact unit: Section Chief Ya-Chun Chang, Corporate Finance Division, Securities and Futures Bureau
Tel: (02) 2774-7147
For questions, please write to: FSCMAIL
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Update：
2022-07-07