Chapter VII Handling of Violations |
| Article 30 | Under any of the following circumstances, the TWSE may notify a user applicant to make improvement or correction within a given period, and may additionally impose a penalty for breach in the amount of NT$20,000:
- Violation of the provisions of Article 16, Article 17, Article 18, paragraphs 2 and 3, Article 22, or Article 24 of these Regulations; or
- Violation of the requirements set forth in any circular or public announcement of the TWSE, or in any letter or order of the Competent Authority.
Where the negligence of a user applicant results in any error in the content of the trading information in violation of Article 12, paragraph 1 of these Regulations, the TWSE may notify the user applicant to make improvement or correction within a given period; where a total of six errors has been found in any six-month period, the TWSE may additionally impose a penalty for breach in the amount of NT$20,000.
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| Article 31 | Where a user applicant has delayed payment of fees or royalties for a period of one month or longer, the TWSE shall be entitled to levy a penalty for delay in an amount equal to one percent of the payment in arrears, and to notify the user applicant to make payment within a given period of time.
When a user applicant neglects to pay or understates the amount of fees or royalties , then in addition to payment of the deficit amount by the user applicant, the TWSE may impose a penalty in an amount not to exceed four times the amount of the deficit.
When a user applicant, on its own and without the permission of the TWSE, augments or alters the method of transmission or the scope of the trading information, the TWSE may notify it to make improvement or correction within a given period, and apply the provisions of paragraph 2 mutatis mutandis.
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| Article 32 | Given any of the following circumstances, the TWSE may notify a user applicant to make improvement or correction within a given period, and may additionally impose a penalty for breach in the amount of NT$50,000:
- Violation of the provisions of Article 7, paragraph 2; Article 12, paragraphs 2 or 3; Article 14, paragraphs 3 or 4; or Article 19, paragraph 1 or 2 of these Regulations;
- Violation of the provisions of Article 12, paragraph 1 of these Regulations a total of three times in one month because of errors in the content of the trading information due to negligence;
- Failure to improve or correct the default within the period prescribed by the TWSE pursuant to the provisions of Article 30;
- Serious violation of the requirements set forth in any circular letter or public announcement of the TWSE, or any letter or order of the competent authority.
A user applicant that has violated the provisions of Article 12, paragraph 3 herein may be exempt from the penalty for breach if able to prove that it exercised due care before the occurrence of the event and took necessary legal action afterwards against unlawful use or interception of the trading information.
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| Article 33 | Under any of the following circumstances, the TWSE may notify a user applicant to make improvement or correction within a given period, and may additionally impose a penalty for breach in the amount of NT$100,000:
- Where deliberately or through gross negligence, the applicant user causes an error in the trading information transmitted, in violation of Article 12, paragraph 1.
- Violation of Article 7, paragraph 3, Article 13, or Article 15.
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| Article 34 | Given a serious violation of Article 4, Article 14, paragraph 1or 4, Article 14-1, paragraph 1 or 2, Article 20, or Article 13, the TWSE may notify the user applicant to make improvement or correction within a given period, and may additionally impose a fine for breach in the amount of NT$200,000.
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| Article 35 | Given any of the following circumstances, the TWSE may impose on a user applicant a fine for breach in the amount of NT$500,000, or terminate the contract:
- Unlawful conduct arising out of intentional acts or gross negligence, resulting in an error in the trading information transmitted, in violation of Article 12, paragraph 1, and materially influencing trading order in the securities market.
- Violation of Article 12, paragraph 3 five times or more within a single year.
- Serious violation of Article 14, paragraph 1 or 4, or Article 14-1, paragraph 1 or 2.
- Failure to pay fees or royalties or penalty for breach of agreement, followed by failure to make payment more than two months after having received notification from the TWSE to make payment within a given period.
- Violation of securities-related acts or regulations or the provisions of the TWSE, with a material adverse impact on the securities market or the administration of trading information by the TWSE.
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| Article 36 | Given a user applicant's violation of Article 18, paragraph 1, Article 19, paragraph 3, or Article 23, refusal or evasion of inspection by personnel appointed by the TWSE, and continued failure to cooperate after reinvestigation by the TWSE or notification to provide an explanation or to provide account books or documentation of finances or operations, the TWSE may suspend the user applicant's use of trading information for a period of three to seven business days.
Given continued failure to cooperate with inspection by a user applicant following the TWSE's suspension of its use of the trading information for a period of seven days pursuant to the preceding paragraph, the TWSE may terminate the contract for use of trading information.
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| Article 37 | Given violation of these Regulations by a subscriber, or where such violation results in material adverse impact on the securities market or on the administration of trading information by the TWSE, the TWSE may notify the given user applicant to suspend transmitting trading information to the said subscriber, or notify the subscriber to make improvement or correction.
A subscriber whose access to trading information has been suspended may not apply to receive transmission of trading information for a period of one year thereafter.
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