Menu Skip to main content block
:::
:::

Major Enforcement Actions

Main Content

A fine of NT$3 million imposed on Chang Hwa Bank under Subparagraph 7, Article 129 of the Banking Act after an employee of its Dongguan Branch accepted payment from an appraisal company involving deficiencies of the internal control system in violation of Banking Act regulations

Chang Hwa Bank was found to have shortcomings including an employee of its Dongguan branch accepted payment from a rating company, the head office failed to set up an effective internal control system for the operations of its overseas branches, the selection of overseas branch managers was not based on competency and branch managers dispatched overseas were not given sufficient regulatory training. In violation of Paragraph 1, Article 45-1 of the Banking Act, Chang Hwa Bank was fined NT$3 million under Subparagraph 7, Article 129 of the same Act.
 
Visitor: 616   Update: 2018-08-05