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The FSC held 2024 Awards Ceremony to Praise Securities Firms and Futures Firms for their Excellent Performance on Implementing “Treating Customers Fairly Principle”

2024-11-01
On 1 November 2024, the Financial Supervisory Commission (“FSC”) held the 2024 Awards Ceremony to praise 10 securities firms and 4 futures firms for their excellent performance on implementation of Treating Customer Fairly Principle (TCFP). The FSC Vice Chairperson, Dr. Yen-Liang Chen, attended the Ceremony and presented the awards in person. 

This year, the FSC conducted the TCFP assessment on 30 securities firms (including 9 large scale, full-licensed firms with paid in capital NTD$10 billion or more, and 21 brokerage firms) and 14 futures firms. According to the assessment result, the FSC awarded to the following winners in recognition of their best performance on TCFP implementation: These top 25% Performers are listed as follows (presented in no particular order):
(1)    Securities firms: Yuanta Securities Co., Mega Securities Co., Kgi Securities Co., Fortune Securities Co., Pei Cheng Securities Co., Bridge Stone Securities Co., King’s Town Securities Co., Golden Gate Securities Co., Far Eastern International Securities Co.. The best progress award winner is Capital Securities Co..
(2)    Futures firms: Yuanta Futures Co., MasterLink Futures Co., Mega Futures Co., Kgi Futures Co.. The best progress award winner is Kgi Futures Co..

In addition, the Securities and Futures Bureau (SFB) also addressed the firms’ overall strengths and weaknesses found in the assessment process and proposed practical advices for them in the face of the subsequent assessments. The awarded firms were also invited to speak and share experience for peer learning escalation.

The FSC stated that the awarded winners had a lot of moves in common; in particular, their board of directors attach the importance of TCFP compliance and advance the best practices as follows: board members put forward specific suggestions, such as proposing a concise and powerful customer dispute handling and reporting process, and deepening board members’ participation in training courses on financial consumer protection, ethical corporate management, and information security. 

Firms outperformed in “Principle of balance beteween remuneration and performance” and “Principle of friendly services”. Their best practices are as follows: the numeration policy take into considerations non-financial constituents, including violation against securities and futures related regulations, client disputes and satisfication, as well as KYC implementationl; setting up the responsible unit, directly supervised by the board of directors, to monitor the renumeration policy; Proposing care services for vision, hearing or physically challenged clients; providing sign language; enlarging expenditures in information security and voice-activated devices to narrow digital gap. 

The FSC have announced to continue the TCFP assessment in 2025 with the assessment highlights. The FSC urges the securities and futures firms to take active actions and implement innovative measures to enhance their financial services and attach corporate culture on ethical management, transparency, and fiduciary care. 



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Visitor: 935   Update: 2024-11-01
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