1.    Date of sanction: August 15, 2025
2.    Object of sanction: King’s Town Securities Co., Ltd. (hereinafter referred to as King’s Town Securities) and its associated person XX Huang.
3.    Legal basis for the sanction: Article 56, paragraphs 1 and 5, Article 66, and subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act; paragraph 2, Article 2 and paragraph 4, Article 37 of the Regulations Governing Securities Firms; and paragraph 1 and subparagraphs 9 and 10, paragraph 2, Article 18 of the Regulations Governing Responsible Persons and Associated Persons of Securities Firms.
4.    Facts of violation: The Taiwan Stock Exchange Corporation conducted an audit of King’s Town Securities from October 28 to 30, 2024, and found that its associated person, XX Huang, did not adhere to the principles of honesty and credibility. He used the excuse of raising insufficient funds for securities settlement on behalf of customers to obtain funds from other customers; however, the funds raised were for his own use and that of his friends, and there existed a borrowing and lending relationship between the customers and himself. In addition, King’s Town Securities has been verified to have deficiencies in the adjustment of trading limits, management of related account consolidation, execution and verification of customer care interviews, and assessment of associated persons’ trading accounts.
5.    Sanction imposed: King’s Town Securities is ordered to remove XX Huang from his position in accordance with Article 56 of the Securities and Exchange Act, and the firm is requested to discipline the relevant supervisory personnel. In addition, a warning is issued to and a fine of NT$1.2 million is imposed on King’s Town Securities in accordance with paragraph 1, Article 66 and subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act.

Contact unit: Securities Firms Division, Securities and Futures Bureau
Tel: (02) 2774-7130
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