Regulatory Alerts2026-05-28
Added
Financial Supervisory Commission Penalty Against Taishin International Commercial Bank for Internal Control Failures and Misappropriation
The Financial Supervisory Commission imposed a NT$14 million fine and a one-month suspension on new high-net-worth client services on Taishin International Commercial Bank due to severe internal control failures. The penalty addresses the bank's failure to detect and report a former financial advisor's misappropriation of client funds and its inadequate monitoring of employee conduct and ATM transactions. The regulator mandated corrective actions, requiring the bank to improve its internal control systems and reporting mechanisms before resuming the suspended business activities.
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