In response to the Securities and Exchange Act introducing the new provision to mandate TWSE/TPEx listed companies to disclose their remuneration policy, and the remuneration of the directors and supervisors in the annual financial reports, the Financial Supervisory Commission(hereinafter referred to as "FSC" ) proposed to amend the Form 8-7 of Article 23 of Regulations Governing the Preparation of Financial Reports by Securities Issuers. The period of preliminary announcement has expired. The new Regulations will be promulgated and reinstated shortly. The main amendments are as follows:

1. TWSE/TPEx listed companies should additionally disclose the remuneration of the supervisors (the current statement has already asked the companies to disclose the remuneration of the directors) and the company’s remuneration policy (including the directors, supervisors, managers and employees) in the “Summary statement of current period employee benefits, depreciation, depletion and amortization expenses by function”.

2. The amendment shall be applicable to annual financial reports starting from year 2020.

In addition, the FSC will issue orders on the Regulations Governing the Preparation of Financial Reports by Securities Firms and the Regulations and the Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants in accordance with the above amendments.

 

 

Accounting and Auditing Supervision Division, Securities and Futures Bureau 

Contact Tel. (02)2774-7343 Yi-Ju Chung, Section Chief

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