Central News Agency (CNA, Taipei, July 1st) Cathay Securities Investment Trust (SIT C) mistakenly crossed the line on related-party investments, causing a major uproar. Cathay Financial Holding General Manager Lee Chang-keng stated today that this was indeed due to a series of blunders. When Kuo Ming-chien served as an independent director of WSC-KY, he failed to report to SIT C, and SIT C's review missed it. Last July, a failure to compare with the financial holding company's reporting system led to the error. Cathay Financial Holding Chairman Tsai Hong-tu immediately convened a meeting after the incident occurred, demanding that the problem be resolved with all efforts. Speaking at a press conference following the Cathay Sustainable Finance and Climate Change Summit Forum hosted by Cathay Financial Holding today, Lee Chang-keng said that Tsai Hong-tu was very concerned about the matter. After the incident occurred, he immediately convened a board and compliance meeting, demanding that the problem be resolved with all efforts to prevent it from happening again in the future. Tsai Hong-tu also insisted on engaging an external consulting firm for a comprehensive review, and regular reviews will be conducted in the future to prevent new loopholes from emerging due to changes in the external environment. After all, having paid such a high price this time, similar incidents must never happen again. The public has noted that the financial holding company and the bank received the report from Kuo Ming-chien, former Chairman of Cathay United Bank and then director of Cathay SIT C, about his role as an independent director of WSC, but SIT C did not receive the notification, leading to the mistaken crossing of the related-party investment red line in the second half of last year. Ultimately, after recalculating eight funds, the total compensation for entrusted and fund portions reached NT$948 million. Lee Chang-keng admitted that the entire incident was a blunder. WSC-KY was