Taishin Securities Fined NT$1.31 Million by TWSE for Repeated System Glitches

Following the merger of Taishin Securities and MasterLink Securities on April 6, frequent system glitches occurred due to integration issues. The Taiwan Stock Exchange (TWSE) today announced the first wave of penalties, fining Taishin Securities a total of NT$1.31 million in overdue fees and breach of contract penalties. According to TWSE, several system abnormalities were recorded after the merger, including fund withholding and accounting system issues on April 7, app return report errors on April 14, and memory shortages on the 'PhoneEZ' app on April 20 affecting investors. TWSE required Taishin to improve immediately and dispatched personnel for an on-site audit to ensure market operations and investor protection. Due to these abnormalities, Taishin failed to complete required reporting on time, such as error trade reporting and credit transaction data uploads. Furthermore, the audit revealed violations in cybersecurity and internal control standards, for which TWSE will take further action. Regulators will also decide on additional penalties based on the audit results under the Securities and Exchange Act. TWSE emphasized its ongoing requirement for Taishin to propose short, medium, and long-term improvements to maintain market order.