CTBC Bank is found to have the following deficiencies in its insurance agency business – in a residential fire insurance application case, the insured amount for the building exceeds its replacement cost calculated based on the reference construction cost; failure to save a copy of the application documents; failure to confirm the suitability of an insurance product for a consumer; when conducting phone solicitation, failure to obtain the consent of the recipient to record the entire course of conversation at the beginning of the call; failure to cancel the registration of a solicitor within 5 days after the solicitor departs. The FSC orders the company to take corrective action on two items within one month, imposes a fine of NT$300,000 and issues 3 official reprimands in accordance with Paragraph 1, Article 164-1, and Articles 167-2 and 167-3 of the Insurance Act on September 16, 2019. For further information please refer to the website of the Insurance Bureau in Chinese version.