1. Date of sanction: September 15, 2023
2. Object of sanction: Horizon Securities Co., Ltd. (hereinafter referred to as Horizon Securities) and XX Chen, its former associated person for consigned trading.
3. Legal basis for the sanction: Article 56 and subparagraph 4, paragraph 1, Article 178-1 at the time of the Securities and Exchange Act, subparagraphs 2, 3, 4, 7, 9 and 17 of paragraph 2, Article 18 of the Regulations Governing Responsible Persons and Associated Persons of Securities Firms, and paragraph 2, Article 2 and paragraphs 5, 15, 16 and 22, Article 37 of the Regulations Governing Securities Firms.
4. Facts of violation: On December 2, 2022, the Taiwan Stock Exchange Corporation conducted an audit on the Guanqian Branch of Horizon Securities, and found that XX Chen, its former associated person for consigned trading, had accepted customers’ discretionary orders and shared the related profits, used the LINE communication software to disclose customer order information, acted as an agent for customers to buy and sell securities through other securities firms’ accounts, lent funds to customers, and used customer accounts for personal transactions, all of which are in violation of laws and regulations.
5. Sanction imposed: 
(1) On the firm: A fine of NT$480,000 is imposed in accordance with subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act at the time of the act.
(2) On the personnel: Horizon Securities is ordered to suspend the business execution of XX Chen, its former associated person for consigned trading at its Guanqian Branch, for one year in accordance with Article 56 of the Securities and Exchange Act.