Below are key takeaways from ISS’ recently released 2022 Taiwan Proxy Season Preview. The full report is available to institutional subscribers by logging into ProxyExchange then selecting the Governance Exchange and its Report Center tab and to corporate subscribers by logging into Governance Analytics then selecting the Governance Exchange and the Report Center tab.
- Hybrid/Video Conference Shareholder Meetings: Recent amendments to the Company Act allow listed companies to hold shareholder meetings via either video conference exclusively or as hybrid meetings.
- Enhanced Governance Disclosure in Annual Reports: The amended Regulations Governing Information to be Published in Annual Reports of Public Companies aims to strengthen information disclosure practice regarding ESG issues and to align with international practice.
- Compulsory Appointment of Chief Corporate Governance Officer: All listed companies are expected to appoint a chief corporate governance officer by June 30, 2023.
- Filing Rules of Sustainability Reports to Expand Coverage: The two main stock exchanges renamed “CSR reports” to “sustainability reports”, expanded the report filing requirement to cover more companies, and added new filing items in a move to enhance sustainability-related disclosure quality.
- Amendments to Regulations for Asset Acquisition or Disposal by Public Companies: Regulators tightened scrutiny over related-party transactions, demanded higher quality valuation reports or opinions from external experts, and exempted certain securities trading from disclosure requirement.
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By Elodie Zeng, Rui Ning Cheng, Son Eng Lim, Elaine Zhu, Warren Chen