|
Article 6
|
A lead securities underwriter and a succeeding securities underwriter shall, during the period when they are mandated by a TWSE primary listed company, Taiwan Innovation Board listed company or a Taiwan Innovation Board primary listed company to assist in legal compliance, retain relevant documents, working papers, data or interview records in connection with the assistance process and site visits made. The TWSE may requisition and review these when necessary.
A lead securities underwriter and a succeeding securities underwriter shall upload the records of assistance with legal compliance mentioned in the preceding paragraph over the internet to the TWSE designated e-filing system on a quarterly basis. The TWSE shall select 5% for random inspection each year, provided the following are subject to priority random inspection and included in the above selected percentage and number of cases:
- where the competent authority or judicial authority instructs that inspection be conducted or evidence be furnished
- where an information is filed in the informant’s name, with concrete evidence introduced
- where the media reports material irregularity with the finance or business of the Principal
- where the securities underwriter fails to a material extent to present records of assistance with legal compliance as required
- where the TWSE primary listed company or Taiwan Innovation Board primary listed company is subject to a decision or disposition not less than an administrative fine by the competent authority according to laws and regulations or a penalty by the TWSE according to requirements for violating to a material extent ROC securities related laws and regulations or TWSE listing related rules
- where the TWSE deems it necessary for other reasons
If a securities underwriter violates these Directions, the TWSE may requisition and review documents, working papers, or data referred to in paragraph 1, and may, pursuant to the TWSE Regulations for Handling Deficiencies in an Evaluation Report or Other Related Information Submitted by a Securities Underwriter, issue a demerit or refuse for a certain time period to accept assessment reports produced by that securities underwriter.
|