Bank SinoPac has been fined NT$2 million (US$65,000) for providing to a subsidiary information about clients who have been registered as unwilling to be the target of co-marketing.

Date: Oct 5, 2011

Tags: Taiwan, Enforcement

Bank SinoPac has been fined NT$2 million (US$65,000) for providing to a subsidiary information about clients who have been registered as unwilling to be the target of co-marketing.

According to Taiwanese regulation, financial holding companies have to get written approval from clients before sharing their information with internal subsidiaries.