The FSC recently ordered First Commercial Bank to complete a corrective action within 1 month, handed the bank an administrative fine of NT$1.8 million, and issued an official reprimand after learning of the following infractions: (a) sale of products to customers without proper confirmation of product suitability; and (b) 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 and Article 167-2).