The FSC discovered discrepancies in related matters on the beneficial owners of CTL through executing financial examination, a major shareholder of Jih Sun Financial Holding Co.,Ltd. (JSFH), and there were also questions regarding whether CTL is funded by capital from Mainland China. The FSC has repeatedly requested CTL to provide an explanation of the relationship between the source of funds for investments in JSFH and the beneficial owners it had reported, the decision making process of the reported beneficial owners for assigning members of the board of directors, and the internal authorization procedure in accordance with regulations to confirm the accuracy of CTL's reported beneficial owners. However, CTL has failed to provide complete information to clarify the concerns regarding the beneficial owners.  The FSC therefore concluded that CTL has failed to report information in violation of  Article 16, paragraph 2 of the Financial Holding Company Act and imposed a fine of NT$25 million in accordance with the Article 16, Paragraph 10 of the Act. The FSC also restricted CTL’s voting rights for shares issued by JSFH for which CTL has failed to report in accordance with regulations, and ordered CTL to dispose of such shares within 1 year starting from the date the penalty is delivered.