FSC imposes sanctions on Taichung Commercial Bank
2021-01-19
The FSC recently imposed an administrative fine of NT$4 million on Taichung Commercial Bank after discovering that a former wealth manager at the bank had misappropriated customers' funds and engaged in abnormal fund transactions with customers. The improprieties were found to be violations of Article 45-1, paragraph 1 of the Banking Act, and the fine was imposed in accordance with Article 129, subparagraph 7 of the same Act.
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Update:
2021-01-29