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Administrative Sanction

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Sanction on Far Eastern International Securities Co., Ltd. for Violation of Securities Management Related Laws and Regulations


1.     Date of sanction: April 26, 2024
2.     Object of sanction: Far Eastern International Securities Co., Ltd. (hereinafter referred to as Far Eastern International Securities).
3.     Legal basis for the sanction: Paragraph 5, Article 66 and subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act, and paragraph 2, Article 2 and of the Regulations Governing Securities Firms.
4.     Facts of violation: From September 25 to 28, 2023, the Taipei Exchange conducted a routine cyber security audit of Far Eastern International Securities and found that the firm had deficiencies in network security management, computer system and operation security management and information access control. This indicates that Far Eastern International Securities did not implement its internal control system, and the facts are verified to have violated paragraph 2, Article 2 of the Regulations Governing Securities Firms.


5.     Sanction imposed: A fine of NT$300,000 is imposed in accordance with subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act; in addition, according to paragraph 5, Article 66 of the same Act, Far Eastern International Securities is ordered to increase the operational risk equivalent amount of its capital adequacy ratio by 0.5 time before the relevant information security deficiencies in this case are improved.
    
Contact unit: Section Chief Tseng, Securities Firm Management Group, Securities and Futures Bureau
Tel: (02) 2774-7401
If you have any questions, please write to mail
 
Visitor: 351   Update: 2024-05-15
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