In any of the following events, the TPEx may, according to the severity of the circumstances, impose a penalty from NT$30,000 to NT$1 million.
In any of the events set out in the preceding paragraph, the TPEx, in addition to imposing a penalty under the preceding paragraph, also shall notify the securities firm to take supplementary or corrective measures within a prescribed time period. If it fails to take the supplementary or corrective measures within the time period, the TPEx may continually order it to take supplementary or corrective measures within prescribed time periods, and may impose a penalty from NT$30,000 to NT$1 million until the measures have been carried out in each instance.
- Any of the conduct listed in Article 15, paragraph 1.
- Failure to comply with Articles 15-1 to 15-6 when conducting recommendations, advertising, business solicitation, or securities investment consulting business.
- Failure to confirm or control in accordance with regulations, for a fiscal year, the limit on the amount of capital raised by a company through equity crowdfunding, or the limits on subscription by an investor.
- Failure to input information in the prescribed format into the information reporting system designated by the TPEx by the deadline in accordance with Article 30.
- Failure to complete corrections by the specified deadline when any deficiency is discovered from the results of an audit under Article 31.
- Refusal, obstruction, or evasion of an examination conducted by the TPEx, CPAs, or a professional institution designated by the TPEx.
- Failure to present, within the deadline, account books, statements, documents, or other reference or report materials to the TPEx , CPAs, or a professional institution designated by the TPEx.
- Misrepresentation, concealment, material omission, or obvious error in any relevant material presented as referred to in the preceding subparagraph.
- Occurrence of a material network information security event to the crowdfunding platform.
- Material breach of a contract signed with the TPEx.
- Violation of laws or regulations of the competent authority, where the circumstances are serious.
In any of the events set out in paragraph 1, if the securities firm timely presents specific evidence, proving that the event is not attributable to it, the TPEx, after examining the evidence, may consent to reduce the liability of the securities firm or exempt it from liability.
If the cumulative number of times that the securities firm has been penalized for violation of any provision set out in paragraph 1 within the most recent year, inclusive of the current penalty, reaches two or more, or the circumstances in a specific case arise out of intent or a material deficiency, or have a material effect on shareholder equity, the TPEx may report the matter to the competent authority for it to take necessary dispositive measures.