(Penal Provisions)
A person who, in operating securities investment trust business or fund custody business, violates Article 8, paragraph 1, with respect to the public or a beneficiary(ies) shall be punished by imprisonment for not less than 3 years and not more than 10 years, and may additionally be fined a criminal fine of not less than NT$10 million and not more than NT$200 million
A person who, in operating securities investment consulting business, discretionary investment business, full fiduciary custody business, or other business under this Act, violates Article 8, paragraph 1, with respect to the public or a customer(s) shall be punished by imprisonment for not less than one year and not more than seven years, and may additionally be fined a criminal fine of not more than NT$50 million.
Any proceeds from the commission of a crime by an offender committing an offense under the preceding two paragraphs, other than that which shall be returned to a victim or a third party, shall be confiscated regardless of whether it belongs to the offender.

(Penal Provisions)
A director, supervisor, manager, or employee of a securities investment trust enterprise or securities investment consulting enterprise who commits an act in breach of duties, with intent to secure for himself/herself or for another, an unlawful benefit, or a benefit detrimental to the interests of securities investment trust fund assets or discretionary investment assets, causing damage to the securities investment trust fund assets, discretionary investment assets, or other interests, shall be punished with imprisonment for not less than three years and not more than ten years, and additionally may be fined a criminal fine of not less than NT$10 million and not more than NT$200 million. If the property or property interest obtained from the commission of the crime is NT$100 million or more, the offender shall be punished with imprisonment for not less than seven years, and additionally may be fined a criminal fine of not less than NT$25 million and not more than NT$500 million.
An attempted offense described in the preceding paragraph shall be punishable.
In the case of a person who commits an offense under the preceding two paragraphs and subsequently voluntarily surrenders himself/herself before the offense is discovered, if he/she voluntarily hands over the criminal proceeds in full, his/her punishment shall be reduced or remitted; his/her punishment shall be remitted if another principal offender or an accomplice is captured as a result.
In the case of a person who commits an offense under paragraph 1 or 2 and confesses during the prosecutorial inquiry, if he/she voluntarily hands over the criminal proceeds in full, his or her punishment shall be reduced; his/her punishment shall be reduced or remitted if another principal offender or an accomplice is captured as a result.

(Penal Provisions)
Any of the following offenses by a securities investment trust enterprise, securities investment consulting enterprise, fund custodian institution, or full fiduciary custodian institution shall be punished by imprisonment for not less than 1 year and not more than 7 years, and in addition a criminal fine of not more than NT$50 million may be imposed:
1. any falsehood or concealment in the content of a prospectus or private placement memorandum submitted to the Competent Authority.
2. any falsehood or concealment in the content of any account book, form/statement, document, or other reference or report material submitted under an order by the Competent Authority.
3. any falsehood or concealment in the content of any account book, form/statement, voucher, financial report or any other business document specified by law or in an order/regulation issued by the Competent Authority under a law.

(Penal Provisions)
Any of the following offenses shall be punished by imprisonment for not more than five years, and in addition a criminal fine of not less than NT$1 million and not more than NT$50 million:
1. operating, without permission from the Competent Authority, securities investment trust business, securities investment consulting business, discretionary investment business or another business requiring approval from the Competent Authority.
2. engaging in, or acting as an agent for, the public offer or sale of offshore funds within the Republic of China in violation of Article 16, paragraph 1.

(Penal Provisions)
Any director, supervisor, manager, or employee of a securities investment trust enterprise or securities investment consulting enterprise who solicits, agrees to accept, or accepts any property or other improper benefit in connection with the performance of his or her duties shall be punished by imprisonment for not more than five years, detention, and/or a criminal fine of not more than NT$2.4 million.
Any person referred to in the preceding paragraph who solicits, agrees to accept, or accepts any property or improper benefit for actions in breach of his or her duties shall be punished by imprisonment for not more than seven years and additionally may be fined a criminal fine of not more than NT$3 million.

(Penal Provisions)
Any person who promises to offer, agrees to offer, or delivers any property or other improper benefit to any person who acts contrary to his or her duty as specified in the preceding article shall be punished by imprisonment for not more than three years, detention, and/or a criminal fine of not more than NT$1.8 million.
The punishment of the offense specified in the preceding paragraph may be mitigated if the offender confesses or voluntarily surrenders; the punishment may be mitigated if the offender confesses during investigation or trial.

(Penal Provisions)
Any person who engages in, or acts as an agent for, investment consultancy of offshore funds within the Republic of China in violation of Article 16, paragraph 1, shall be punished by imprisonment for not more than two years, detention, and/or a criminal fine not more than NT$1.8 million.

(Penal Provisions)
For any of the following offenses, a securities investment trust enterprise or securities investment consulting enterprise shall be fined an administrative fine of not less than NT$600,000 and not more than NT$3 million, and ordered to make corrections within a specified period; if it fails to make corrections within such period, administrative fines of two to five times that amount may be imposed for each instance of failure until such time as corrections have been made:
1. operating business that has not been approved by the Competent Authority, in violation of Article 3, paragraph 4, or Article 4, paragraph 4.
2. violating provisions of the regulations prescribed by the Competent Authority under Article 14, paragraph 1, Article 18, paragraph 1, or Article 56, paragraph 1, concerning investment or trading scope, methods, or restrictions.
3. violating provisions of the regulations prescribed by the Competent Authority under Article 16, paragraph 4, concerning investment or trading scope or restrictions.
4. violating Article 16-1, paragraph 1, Article 19, paragraph 1, Article 51, paragraph 1, or Article 59.
5. violating provisions prescribed by the Competent Authority under Article 58, paragraph 2, concerning the investment target diversification rate.
6. operating without a business license issued by the Competent Authority, in violation of Article 63, paragraph 1.
7. violating applicable codes of conduct or restrictive or prohibitory provisions of the regulations prescribed by the Competent Authority under Article 69.
8. violating applicable restrictive or prohibitory provisions of the regulations prescribed by the Competent Authority under Article 70.
9. establishing a branch unit or relocating, or closing a company or branch unit without approval from the Competent Authority, in violation of the standards or regulations prescribed by the Competent Authority under Article 72, paragraph 1.

(Penal Provisions)
Any of the following offenses shall be punished by an administrative fine of not less than NT$300,000 and not more than NT$1.5 million, and the offender will be ordered to make corrections within a specified period; if the offender fails to make corrections within such period, consecutive administrative fines of two to five times that amount may be imposed for each instance of failure until such time as corrections have been made:
1. failing to deliver a prospectus in accordance with Article 15, paragraph 1.
2. using a name similar to "securities investment trust enterprise" or "securities investment consulting enterprise" in violation of Article 63, paragraph 3.

(Penal Provisions)
A securities investment trust enterprise, securities investment consulting enterprise, fund custodian institution, or full fiduciary custodian institution that commits any of the following offenses shall be fined an administrative fine of not less than NT$120,000 and not more than NT$600,000, and ordered to make corrections within a specified period; if it fails to make corrections within such period, consecutive administrative fines of two to five times that amount may be imposed for each instance of failure until such time as corrections have been made:
1. violating a provision of Article 11, paragraph 4, or Article 43, subparagraph 2, concerning reporting to the Competent Authority.
2. violating Article 17, paragraph 1 or 2.
3. failing to make materials available for reading under Article 20.
4. failing to prepare, report, publicly announce, make available, or preserve any account book, form/statement, voucher, financial report, or other business document or matter as required under Article 26, Article 49, Article 74, paragraphs 1 or 3, Article 81, paragraph 1, Article 99, paragraph 1, or Article 100, paragraph 2.
5. violating a provision of Article 29, paragraph 1, Article 43, subparagraph 1, Article 45, paragraph 4, Article 96, paragraph 4 or 5, concerning matters required to be publicly announced.
6. failing to make a report, public announcement, notice, or recordation under Article 47, paragraph 2.
7. failing to prepare customer data or preserve related documents under Article 60, paragraph 1, subparagraph 2.
8. failing to create an account, record information, prepare records, or deliver records or reports under Article 62, paragraph 1, 4, or 5.
9. violating regulations prescribed by the Competent Authority under Article 69 concerning personnel requirements or under Article 72, paragraph 1, concerning departments required to be established.
10. acts causing conflicts of interests with or injury to rights and interests of beneficiaries or customers in violation of Article 94.
11. refusing designation by the Competent Authority as a successor without legitimate reason in violation of Article 96, paragraph 2.
12. failing to produce financial or business reports or other related materials within the time limit, or evading, impeding, or refusing inspection, in violation of Article 101, paragraph 1.

If an person or entity that violates Article 70-1, paragraph 3 is notified to remove an advertisement, restrict browsing of it, cease broadcasting it, or take other necessary measures and fails to do so by the deadline under the notification, the judicial police authority that gave the notification shall impose an administrative fine of not less than NT$120,000 and not more than NT$600,000 and order it to make corrections within a specified period; if it fails to make corrections within such period, consecutive administrative fines of two to five times that amount may be imposed for each instance of failure until such time as corrections have been made.

(Penal Provisions)
If the Securities Investment Trust and Consulting Association violates provisions of the regulations prescribed by the Competent Authority under Article 86 concerning regulation or supervision of Securities Investment Trust and Consulting Association business, it shall be fined an administrative fine of not less than NT$120,000 and not more than NT$1.2 million, and ordered to make corrections within a specified period; if it fails to make corrections within such period, consecutive administrative fines of two to five times that amount may be imposed for each instance of failure until such time as corrections have been made.

(Penal Provisions)
If a fund custodian institution or a director, supervisor, manager, or employee thereof violates Article 7, paragraph 1 or 2, Article 8, paragraph 1 or 2, Article 21, Article 23, paragraph 1, Article 24, paragraph 1, or Article 40, paragraph 1, the Competent Authority may suspend its execution of fund custody business for not less than one month to not more than two years, depending on the severity of the violation.

(Compulsory Execution)
If an administrative fine imposed under this Act is not paid by a deadline set for its payment, it will be duly referred for compulsory execution in accordance with law.

(Penal Provisions)
With respect to where a juristic person is subject to penalty for violating any administrative law obligation under this Act, any deliberate or negligent [act or omission] of a responsible person, associated person, or other employee of such juristic person is deemed a deliberate or negligent [act or omission] of the juristic person.

(Penal Provisions)
Where a juristic person violates a provision of Articles 105 to 110, the punishment shall be imposed on its responsible person.

(Penal Provisions)
Where a criminal fine assessed for an offense under this Act is NT$50 million or more and the offender lacks the ability to pay it in full, it shall be commuted to labor for a period of not more than two years, to be calculated by the ratio of the total amount of the fine to the number of days in two years; where the fine assessed is NT$100 million or more and the offender lacks the ability to pay it in full, it shall be commuted to labor for a period of not more than three years, to be calculated by the ratio of the total amount of the fine to the number of days in three years.

(Special Tribunal)
For purposes of trying criminal cases involving violations of this Act, a court may establish a special tribunal or designate a particular person(s) to handle the case.