E.SUN Financial Holding Co. Ltd. said Taiwan's Financial Supervisory Commission fined unit E.SUN Commercial Bank Ltd. NT$4 million due to the improper implementation review of a client's board of directors meeting minutes and information when conducting business related to financial derivative products.

There were also some customer documents that were incompletely filled, along with other deficiencies.

The FSC also suspended the bank from conducting any new derivative transactions containing embedded short forex option, including structured products, until the regulator has recognized improvement to the company's processes. However, transactions carried out with professional institutional investors, high-net-worth corporate investors and transactions with existing clients for the purposes of stopping losses will be allowed.

The bank said it has evaluated its processes and plans to strengthen its internal control system, according to a June 2 release.

As of June 1, US$1 was equivalent to NT$30.10.