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FSC fines Taiwan Life Insurance Co.

The FSC recently imposed an administrative fine of NT$1 million on Taiwan Life Insurance after learning that the company had acquired undeveloped land more than 5 years before and then failed to use the land in a timely manner and with reasonable benefit, as required by Article 146-2, Paragraph 1 of the “Insurance Act.” The fine was imposed in accordance with Article 168, Paragraph 5, Subparagraph 3 of the same Act.
Visitor: 2623   Update: 2021-04-01
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