Regulatory Alerts2026-01-22
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Financial Supervisory Commission Penalty Decision Against Sino Life Insurance Co., Ltd. (Ref: 112I040)
The Financial Supervisory Commission imposed a total fine of NT$3.95 million on Sino Life Insurance Co., Ltd. for violations of the Insurance Act and the Personal Data Protection Act identified during a general business inspection. The penalties stem from the company's failure to implement effective internal controls in real estate investment and management, as well as breaches of data privacy regarding excessive data retention and inadequate access controls for sales staff. The regulator mandated a one-month deadline for the company to rectify these deficiencies.
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