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Article NO. Content

Title:

Corporate Governance Best-Practice Principles for Securities Firms  CH

Amended Date: 2019.01.14 
Categories: Corporate Governance
Article 35     A securities firm shall submit the following matters to the board of directors for discussion.
  1. The company's operation plan.
  2. Annual financial report and semi-annual financial report.
  3. Establishment of or modification to the internal control system in accordance with Article 14-1 of the Securities and Exchange Act.
  4. Establishment of and modification to the procedures of major financial and business activities such as acquisition or disposal of assets, performance of transactions of derivatives, lending of funds to third parties, granting of endorsements and provision of guarantees in accordance with Article 36-1 of the Securities and Exchange Act.
  5. Offering, issuance or private placement of securities of the nature of equity.
  6. Standards for performance evaluations and emoluments for managers and salespersons.
  7. Structure and system of directors' emoluments.
  8. Appointment and dismissal of chief financial, accounting risk management, compliance and internal audit officers.
  9. Donations to related parties or major donations to non-related parties, provided emergency pro bono donations in response to major natural disasters may be submitted to the board of directors' next meeting for retrospective approval.
  10. Matters to be submitted to the shareholders' meeting or board of directors for resolution in accordance with Article 14-3 of the Securities and Exchange Act, other laws and regulations or articles of incorporation, or important matters specified by the competent authority.
    Except the matters required to be submitted to the board of directors for discussion as provided in the preceding paragraph, during the recess of the board of directors, the board of directors may authorize other persons to exercise the powers of the board in accordance with laws or the company's articles of incorporation. When such an authorization is made, information about level of authorization, what is covered in the authorization or particulars of the authorization shall be clear and specific. No general authorization shall be made.