Current Report Filing (8-k)
May 05 2021 - 3:32PM
Edgar (US Regulatory)
0001512927
false
0001512927
2021-04-29
2021-04-29
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): April 29, 2021
CHINA UNITED INSURANCE SERVICE, INC.
(Exact name of registrant as specified in
its charter)
Delaware
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000-54884
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30-0826400
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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7F, No. 311 Section 3, Nan-King East Road, Taipei City, Taiwan
(Address of principal executive
offices and Zip Code)
Registrant’s telephone number, including area code: +8862-87126958
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
Title
of each class
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Ticker
symbol(s)
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Name
of each exchange on which
registered
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N/A
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N/A
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N/A
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Indicate by check
mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b2 of the Securities Exchange Act of 1934 (§240.12b2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 Other Events.
On April 29, 2021, Rays
Technology Co., Ltd. (“Rays”), a majority-owned subsidiary of China United Insurance Services, Inc. (the “Company”),
received a Decision Letter dated April 27, 2021 from the Financial Supervisory Commission (Taiwan) (the “FSC”) stating that
Rays was fined NTD900,000 (equivalent to approximately $32,233 USD) (the “Fine”) by the FSC for violating Article 167-1
Section 3 of the Insurance Act of Taiwan (the “Act”). The FSC found that from 2019 to 2021 Rays used its website “Triple-I”
and its point system thereon to facilitate certain insurance sales and charged the points from certain participating insurance salespersons
on the Triple-I point system once clients purchased insurance products from those insurance salespersons. The FSC found that Rays’
operations through the Triple-I website constituted insurance brokerage services but Rays did not have the proper insurance brokerage
license while operating the Triple-I website. Rays will adjust its business model in order to comply with current laws and regulations.
The Company and Rays plan to pay the Fine on or prior to the prescribed
payment due date according to the Decision Letter and will decide whether to appeal this Decision Letter.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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CHINA UNITED INSURANCE SERVICE, INC.
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Date: May 5, 2021
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/s/ Yi-Hsiao Mao
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Name: Yi-Hsiao Mao
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Title: Chief Executive Officer
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