Financial Consumer Protection Act Article 30-2

If a financial services enterprise commits any of the following acts, the competent authority shall impose a fine not less than Three Hundred Thousand New Taiwan Dollars (NT$ 300,000) and not more than Three Million New Taiwan Dollars (NT$3,000,000):1.Violation of Paragraph 1 of Article 11-1, or Paragraph 3 of Article 11-2, by failing to have a remuneration system for sales personnel approved by the board of directors or not obtaining the agreement of the person in charge in the case of the Taiwan branch of an overseas financial services enterprise.2.Violation of Paragraph 1 or 3 of Article 11-2 by failing, with respect to the initial sale of complex, high-risk products, to gain the approval of the board of directors or executive board of directors or gain the agreement of the person in charge of a branch unit of a foreign financial services enterprises in Taiwan.