The announcement of CFH on behalf of CLI of a
NTD 1,200,000 administrative fine and 2 reprimands.
Date of events
2022/01/22
To which item it meets
paragraph 39
Statement
1.Date of occurrence of the event:2022/01/22
2.Circumstances of the violation:In handling insurance business, Cathay
Life violated the relative Insurance Act
3.Monetary amount of fines:NTD 1,200,000
4.Status of the injunction by the respective competent authority:
FSC cited Article 149, Paragraph 1 of the Insurance Law to issue 2 official
reprimands and Article 171-1, Paragraph 4 to fine NT$ 1.2 million.
5.Intended improvement measures:
Cathay Life Insurance will take improving actions according to the
content of chastisement,and strengthen internal control.
6.Effect on the Company��s business operations:
A administrative fine NTD1,200,000
7.Any other matters that need to be specified:None.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Cathay Financial Holding Co. Ltd. published this content on 24 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2022 10:03:06 UTC.
Cathay Financial Holding Co Ltd is a Taiwan-based financial holding company principally engaged in the investment and the management of investment business. The Company operates through five business segments. The Banking Business segment is mainly engaged in the banking, foreign exchange, guarantee, foreign exchange investment, trust and offshore financial businesses. The Life Insurance Business segment is principally engaged in the sales of traditional, investment and interest rate variable annuities and various insurance products, as well as provision of financial planning services. The Property Insurance Business segment is mainly engaged in the fire insurance, marine insurance, land and air insurance, guarantee insurance and reinsurance. The Securities Business segment is mainly engaged in the securities brokerage, self-employed and underwriting businesses, as well as provision of related financial services. The Others segment is mainly engaged in other assets and others.
CATHAY FINANCIAL HOLDING CO., LTD. 
