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Bank SinoPac was fined

The OBU of Bank SinoPac Co., Ltd. exceeded the investment limit approved by the FSC when investing in bank financial bonds from October 18, 2016 to June 30, 2017, and investing in overseas government bonds from January 26, 2017 to July 12, 2017, in violation of Paragraph 2, Article 5 of the Offshore Banking Act, and Paragraph 4, Article 9 of the Rules Governing Offshore Banking Branches. The FSC thus imposed a fine of NT$1 million under Paragraph 1, Article 22-1 of the Offshore Banking Act.
Visitor: 1694   Update: 2018-09-25