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Article NO. Content

Title:

Taiwan Stock Exchange Corporation Regulations for Handling Deficiencies in Evaluation Reports or Other Related Information Submitted by a Securities Underwriter  CH

Amended Date: 2017.08.15 
Categories: Primary Market > Review
Article 7     The following actions may be taken based on the accumulated demerit points calculated according to the second paragraph of this article in the event demerit points are imposed on securities underwriters within the past year for deficiencies in the assessment report or other relevant information submitted by them:
  1. If ten or more demerit points have been imposed, the TWSE may decline the assessment report by the underwriter for three months.
  2. If 15 or more demerit points have been imposed, the TWSE may decline the assessment report by the underwriter for six months.
  3. If 20 or more demerit points have been imposed, the TWSE may decline the assessment report by the underwriter for nine months.
  4. If 25 or more demerit points have been imposed, the TWSE may decline the assessment report by the underwriter for 12 months and advise the competent authority to take appropriate action.
    The "demerit points" accumulated in the preceding paragraph shall mean the total count of demerit points imposed by the competent authority, Taiwan Securities Association, GTSM and TWSE during the past year.
    When the accumulated demerit points imposed on a securities underwriter during the past year satisfy the circumstances in the first paragraph, as published by the Taiwan Securities Association, the TWSE shall promptly issue a public notice at the stock exchange market, and the period for which the TWSE will decline submission of assessment reports starts from the first day of the month following the month in which the day of the public notice falls.