The FSC recently ordered Mega International Commercial Bank to complete 2 corrective actions within 1 month, handed the bank an administrative fine of NT$3.3 million, and issued an official reprimand after learning of the following infractions: (a) a life insurance brokerage merged by the bank had sold products to its customers without first properly confirming product suitability; (b) failure to handle consumer disputes in accordance with its internal rules; (c) failure to properly vet advertising and promotional materials; (d) the bank’s rules governing insurance solicitor remuneration had failed to take non-financial benchmarks into account; and (e) failure to provide customers with explanations of the terms and exclusions of its products, or of important contents of product prospectuses. The sanctions were imposed in accordance with applicable provisions of the Insurance Act (Paragraph 1 of Article 164-1, Article 167-2, and Article 167-3) and the Financial Consumer Protection Act (Article 30-1).