Reported 11 months ago
The Taiwan Stock Exchange announced a total of NT$44.109 million in centralized market default trading, of which NT$38.544 million remained after offsetting, with Taiwan Semiconductor Manufacturing Co. (TSMC) accounting for NT$28.92 million. The violation occurred due to a failure in debiting the bank account for stock purchased two days prior. The incident has not only surprised the market but has also raised speculations about misjudgment of market conditions or hasty order placements. Consequences for non-delivery violations may include credit insufficiency in the joint credit information system, paying 7% of the trading amount as a penalty, and possible imprisonment as per the Securities Trading Law. TSMC is now facing a 28.92 million non-delivery violation shock.
Source: YAHOO