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Major Enforcement Actions

FSC imposes sanctions on Taichung Commercial Bank

While performing a full scope examination on Taichung Commercial Bank in 2018, the FSC discovered deficiencies involving the bank''s oversight of subsidiaries and its implementation of anti-money laundering operations, legal compliance, and consumer protection. These deficiencies constituted legal violations and hindered safe and sound operation, so that the FSC imposed an administrative fine of NT$6 million, issued an official reprimand, and required correction within a specific period. The sanctions were imposed in accordance with the provisions of the "Banking Act" (Article 129, subparagraph 7 and Article 61-1, paragraph 1) and the "Financial Consumer Protection Act" (Article 12-1, paragraph 1) in force at the time of the violations.

Visitor: 2380   Update: 2020-02-15
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