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Taiwan Stock Exchange Corporation Procedures for Routine Regulation and Regulation by Exception Over Financial and Business Affairs of Listed Companies(2019.07.31) |
| Date： |
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I General Principles
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| Article 1 | These Procedures are adopted in accordance with Articles 47, 48, and 53 of the Taiwan Stock Exchange Corporation (TWSE) Operating Rules and Article 2 of the TWSE Contract for the Listing of Stock to strengthen regulation of the financial and business affairs of listed companies.
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| Article 2 | Except as otherwise provided by laws, regulations, or rules, regulation of the financial and business affairs of a listed company by the TWSE shall be conducted in accordance with these Procedures. If there is a change to any article of law or regulation on which a provision of these Procedures is based, the new provision shall govern.
Document review procedures regarding filings for effective registration, or applications, by listed companies to offer and issue securities shall be separately prescribed.
These Procedures do not apply to listed companies in the financial, insurance, and securities industries or to foreign issuers.
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II Routine Regulation
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| Article 3 | For purposes of these Procedures, routine regulation means TWSE’s regulation of the financial and business affairs of a listed company in accordance with Chapter II or with securities related laws and regulations as well as regulations and public notices of the TWSE.
For purposes of these Procedures, regulation by exception means TWSE’s regulation of the financial and business affairs of a listed company to which a material event as in Article 8 has occurred.
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III Regulation by Exception
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IV Penal and Supplementary Provisions |
| Article 12 | An audited company shall provide the materials required for routine regulation or regulation by exception in accordance with Article 47, paragraph 1, subparagraph 6 and Article 53, paragraph 1 of the TWSE Operating Rules. If the audited company, without legitimate reason, does not provide relevant materials within the time limit, the TWSE may, impose a monetary penalty in the amount of NT$30,000 on the audited company; if the cumulative number of penalties imposed within the most recent one year reaches two or more, or if the circumstances of an individual case are due to willful misconduct or gross negligence, the TWSE may, depending on the seriousness of the circumstances, impose a monetary penalty in the amount of NT$50,000 to NT$5,000,000 per instance, or alter the trading method or suspend the trading of the listed securities in accordance with Articles 49 or 50 of the TWSE Operating Rules.
An audited company on which monetary penalty has been imposed shall pay the penalty to the Finance Department of the TWSE within five days of receipt of the TWSE notice.
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