Corporate
1. Draft Amendments to “Regulations Governing Information to be Published in Annual Reports of Public Companies”
On 26 March 2024, the Financial Supervisory Commission (“FSC”) announced the draft amendment to the “Regulations Governing Information to be Published in Annual Reports of Public Companies”. We summarize below:
(1) Certain required items are removed, provided that investors may still have access to the relevant information through channels such as the company’s website, Market Observation Post System (MOPS), and financial reports.
(2) For information already published on the MOPS, an index of where the information can be found may be disclosed in the annual report in order to simplify the annual report.
(3) To add that “Where the number of directors of either gender on the board of directors of a company listed on the Taiwan Stock Exchange (TWSE) or the Taipei Exchange (TPEx) is less than one-third, reasons shall be stated and measures to enhance gender diversity among directors shall be explained” in order to promote gender diversity among the boards of TWSE or TPEx listed companies.
Reported by: Mike Lu / Winnie Su
Securities
2. Tripartite Agreement Template for Securities Investment Consulting Enterprises Utilizing Robo-Advisor to Entrust Securities Firm to Accept and Execute Automated Rebalancing Trades for Clients
On 13 March 2024, the Securities Investment Trust & Consulting Association announced the tripartite agreement template in response to the amendment to Article 37 of the Regulations Governing Securities Firms and Article 18 of the Regulations Governing Responsible Persons and Associated Persons of Securities Firms announced by the FSC on 6 March 2024, which stipulates terms and conditions for a securities firm to accept and execute the automated rebalancing order(s) placed by the securities investment consulting enterprises on behalf of its client(s).
Reported by: Jeffrey Liu / Amy Su
Labor
3. Regulations Governing the Deduction and Payment of Supplementary Insurance Premium of the National Health Insurance
On March 20, 2024, the Ministry of Health and Welfare announced the amendment to Article 3, 4 and 12 of the Regulations Governing Deduction and Payment of the Supplementary Insurance Premium of the National Health Insurance. The amendment provides that the definition of “salary income” in the “salary income outside of those from the group insurance applicant” subject to supplementary national health insurance premium under Article 31 of the National Health Insurance Act shall be changed from “salary income” under Category 3, Paragraph 1, Article 14 of the Income Tax Act to “salary earning” (i.e. the total amount of salary earning before deducting the special deduction for salary income) under the same catagroy. The amendment increases the base for calculating the supplementary insurance premium . The amendment has been come into effect upon announcement.
Reported by: David Tsai / Alex Li
| Editors: | Counselors: |
|---|---|
| Mike Lu (Partner) Stacy Lo (Partner) Jeffrey Liu (Partner) Kang-Shen Liu (Partner) David Tsai (Partner) Angela Lin (Partner) Paul Hsu (Partner) | Echo Yeh Sue Su Jolene Wang (Lexcel Partners IP) |