Taiwan Fines Cathay SITE, Restricts Offshore Trust Offerings

Taiwan's Financial Supervisory Commission fined Cathay Securities Investment Trust and barred it from applying to launch offshore securities investment trust funds for one year following a conflict-of-interest violation involving a former director. The director held an outside position that breached the commission's rules governing related-party transactions. The restriction took effect following the regulator's enforcement action against the asset-management unit of Cathay Financial Holdings.

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