Menu
Skip to main content block
:::

Major Sanction

Main Content

Li-Cheng Securities Investment Consulting Co., Ltd. Sanctioned for Violation of applicable laws

1.Date of disciplinary action: July 16, 2019.
2.Recipient of disciplinary action: Li-Cheng Securities Investment Consulting Co., Ltd. (hereinafter referred to as “Li-Cheng SICE”)
3.Legal basis of disciplinary disposition: Paragraph 1 in Article 101, Subparagraph 1 in Article 103, and Subparagraph 12 in Article 113 of the Securities Investment Trust and Consulting Act, and also Paragraph 1 in Article 10, Paragraph 2 in Article 11 of the Regulations Governing Securities Investment Consulting Enterprises.
4.Facts of the violation and reasons:
i.Li-Cheng SICE intentionally avoided the examination of Financial Supervisory Commission and the Securities Investment Trust and Consulting Association of the Republic of China, which is a violation of Paragraph 1 in Article 101 of the Securities Investment Trust and Consulting Act.
ii.Li-Cheng SICE failed to keep copies of the analysis reports and related records in providing analysis and recommendation to the customers regarding securities investment, which is a violation of Paragraph 2 in Article 11 of the Regulations Governing Securities Investment Consulting Enterprises.
iii.In proceeding with Know-Your-Customer (KYC), some customer profile failed to file complete information of customer, and others had not been updated at the time of renewal of contracts by the customers. These are in violation of Paragraph 1 in Article 10 of the Regulations Governing Securities Investment Consulting Enterprises.
5.The disciplinary actions: A warning with an administrative fine of NT$600,000 was imposed on Li-Cheng SICE pursuant to Sub-paragraph 1 in Article 103 and Sub-paragraph 12 in Article 113 of the Securities Investment Trust and Consulting Act.
Visitor: 204   Update: 2019-10-18