The Financial Supervisory Commission (FSC) is investigating several overseas accountants that allegedly illegally purchased Tatung Co (大同) shares, FSC Chairman Thomas Huang (黃天牧) said yesterday.
“We have received many reports regarding Chinese investment in the household appliance maker since the beginning of this year,” he said.
Some accounts did not show any suspicious activity after preliminary inspection, but considering the international fund movements, the commission still needs to work with its foreign counterparts to conduct examinations, Huang added.
The commission on Tuesday fined Chinese investors NT$25 million (US$863,259) for unlawfully purchasing Tatung shares through a financial institution in Singapore.
Huang confirmed that the Singaporean financial institution was ING Asia Private Bank, which has been renamed Bank of Singapore.
He refuted rumors that the investor behind the deal was Cheng Wen-i (鄭文逸), who Tatung said was working with Chinese investors.
The commission would also inspect other foreign investments to find out whether they are connected to China, Securities and Futures Bureau Deputy Director Kuo Chia-chun (郭佳君) said.
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