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FSC fines three firms NT$4.5 million each for alleged stock manipulation By Kao Shih-ching / Staff reporter The Financial Supervisory Commission (FSC) yesterday fined three asset management firms NT$4.5 million (US$159,909) each for last year buying shares in a company at the direction of a Ministry of Labor official while conducting discretionary trading for the nation’s labor funds. Fuh Hwa Securities Investment Trust Co (復華投信), Capital Investment Trust Corp (群益投信) and Uni-President Assets Management Corp (統一投信) accepted requests from Yu Nai-wen (游迺文), former head of the Domestic Investment Division of the Bureau of Labor Funds, to purchase Far Eastern Department Store Ltd (遠東百貨) shares, the commission said. ....
Asset managers detained in labor fund bribery case EXPANDED INVESTIGATION: The Taipei District Prosecutors’ Office has conducted raids on the residences of two suspects; five suspects have been detained in the case Staff writer, with CNA The Taipei District Court on Friday ordered that PJ Asset Management CEO Daniel Tarng (唐楚烈) and three others be detained with restricted communication as part of a growing investigation into the alleged bribery of a Ministry of Labor funds manager in a stock manipulation scheme. The court approved a request by the Taipei District Prosecutors’ Office to detain Tarng and PJ Asset Management executive Chiu Yu-yuan (邱裕元), as well as Fuh Hwa Securities Investment Trust Co chief investment officer John Chiu (邱明強) and Fuh Hwa asset manager Marco Liu (劉建賢), for suspected breaches of the Securities and Exchange Act (證券交易法). ....
Asset managers detained in Taiwan labor fund bribery case focustaiwan.tw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from focustaiwan.tw Daily Mail and Mail on Sunday newspapers.
2020/12/11 13:17 PJAM CEO Tang Chu-lie (left), Fuh Hwa Chief Investment Officer Chiu Ming-chiang (CNA photos) PJAM CEO Tang Chu-lie (left), Fuh Hwa Chief Investment Officer Chiu Ming-chiang (CNA photos) TAIPEI (Taiwan News) The CEO and other executives of one of Taiwan s largest asset management companies are being held incommunicado after being questioned over an alleged national labor fund investment scandal, the Taipei District Prosecutor’s Office said Friday (Dec. 11). The office launched the third stage of its bribery investigation on Thursday (Dec. 10). A Ministry of Labor official responsible for labor fund management was arrested two weeks ago for allegedly engaging in stock speculation. ....