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The Penalty Case for Daniel Securities Investment Consulting Ltd.

The Financial Supervisory Commission (hereinafter referred to as FSC) approved Daniel Securities Investment Consulting Ltd.’s (hereinafter referred to as DSIC) penalty case for violating laws and regulations. The FSC has determined that DSIC has violated laws and regulations. The FSC revoked DSIC’s business license in accordance with the applicable laws and regulations governing investment consulting, as the DSIC is manifestly incapable of conducting sound business.

1.Date of punishment: April 11, 2023
2.Party subject to punishment: DSIC
3.Legal basis for penalty: Sub-paragraph 5, Article 103 of Securities Investment Trust and Consulting Act, Sub-paragraph 4, Paragraph 1, Article 3 of Regulations Governing Securities Investment Consulting Enterprises, Paragraph 1, Article 7 of Regulations Governing Securities Investment Consulting Enterprises, Paragraph 5, Article 8 of Regulations Governing Securities Investment Consulting Enterprises, Article 3 of Regulations Governing Responsible Persons and Associated Persons of Securities Investment Consulting Enterprises, Article 6 of Standards Governing the Establishment of Securities Investment Consulting Enterprises.
4.Facts of violation:
(1)The operating bond of DSIC is less than the amount that should be withdrawn in accordance with the applicable laws and regulations. The entire operating bond was confiscated, and no progress has been made to date.
(2)The DSIC’s 2021 financial report indicated that its assets are insufficient to settle liabilities, and no progress has been made to date. 
(3)DSIC is a repeat offender because it has relocated its business multiple times without permission from the FSC.
(4)The positions of general manager of DSIC, financial department supervisor, investment research department supervisor and associated persons have all been unfilled for an extended period of time. There is no designated Financial Department supervisor and the staff designation does not comply with the regulations.
5.Penalty results: in accordance with Sub-paragraph 5, Article 103 of the Securities Investment Trust and Consulting Act and Paragraph 5, Article 8 of the Regulations Governing Securities Investment Consulting Enterprises, the business license has been revoked.

Contact person: Section Director Yeh, Securities Investment Trust and Consultancy Division, Securities and Futures Bureau
Telephone: (02)2774-7357
If you have any questions, please write to: FSCMAIL
Visitor: 185   Update: 2023-04-25
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