Taipei Times
Date: Apr 05, 2018
By: Ted Chen  /  Staff reporter

The Financial Supervisory Commission on Tuesday imposed heavy penalties on Farglory Life Insurance Co (遠雄人壽) for breaches of corporate governance regulations in a series of real-estate development projects.

The commission fined Farglory Life Insurance NT$14.4 million (US$494,030) — the steepest fine it has ever imposed on a life insurer.

It also barred the company from launching new property development projects, extending loans to interested parties and extending loans on unsold property units for three years.

Farglory Life Insurance is a unit of the Farglory Group (遠雄集團), the core business of which is land and property development, and construction.    [FULL  STORY]