The 12th Taipei Corporate Governance Forum ended successfully
2018-10-15
Financial Supervisory Commission (FSC) held the 12th Taipei Corporate Governance Forum (TAICGOF) today (15th) in the National Glory Conference Room of the Chinese Petroleum Corporation Building. The conference started with opening remarks from Mr. Wellington L. Koo, Chairman of the FSC and Mr. Paul G. Levenson, representative of United States Securities and Exchange Commission. Mr. Jun-ji Shih, ROC Vice Premier, and Mr. Anthony Flintoff, General Manager of S&P Global Ratings were also invited to the conference to give keynote speeches.
According to FSC, the attendees of the conference included board of directors, supervisors, general managers of listed companies, and financial institutions. Government officials, representatives of academic research institutes, and the press also attended. The total number of attendees at the conference was over 600 people. Foreign attendees included representatives from supervisory authorities, corporate governance research institutes, stock exchanges, and other related institutions in Asia (inclusive of Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Thailand and Vietnam).
Vice Premier Jun-ji Shih gave a speech on “The Evolving Landscape of Corporate Governance”. Shih pointed out, in response to global trends, on January 7, 2003, the Executive Yuan set up “Corporate Governance Reform Task Force”, discussing and researching a range of issues related to corporate governance. In November of the same year, “Agenda and Action Plan to Strengthen Corporate Governance” was proposed, serving as the foundation of corporate governance implementation. The subsequent execution of policies that followed, along with the establishment of relevant regulations, has built a solid foundation for corporate governance system development. To expedite reform, in addition to setting up more specific legal framework and enhancing “Corporate Governance Best Practice Principles for TWSE/TPEx Listed Companies,” the Corporate Governance Center of Taiwan Stock Exchange was established for more active communication with listed companies, thus effectively strengthening Taiwan’s corporate governance.
Mr. Anthony Flintoff, General Manager of S&P Global Ratings lectured on “The New Direction of Asian Corporate Governance.” According to Flintoff, the overall quality of corporate governance, in addition to regulations and law enforcement efficiency, relies predominantly on corporate internal system, including integrity of strategy, operational efficiency, response to market changes, and risk management system, all of which play crucial roles. He also presented rating criteria by actual cases and discussed how to fortify corporate governance and improve corporate competitiveness.
Ms. Kerrie Waring (International Corporate Governance Network; ICGN) and Mr. Jeffrey R. Williams (ACGA Council Member) moderated “Corporate Governance Ecosystem” and “Board Function and Responsibility” panel discussions, respectively. In the first session “Corporate Governance Ecosystem,” panelists Benson W. C. Liu (Chairman of Taiwan Corporate Governance Association), Waratchya Srimachand (Senior Assistant Secretary-General of Securities and Exchange Commission, Thailand), Leo Seewald (Managing Director, Chairman and Country Head of BlackRock Investment Management), and Stephen Po (Executive Director of Market Conduct, Insurance Authority, Hong Kong) respectively shared their opinions on ways to construct a complete corporate governance ecosystem for corporate governance model improvement in Asia, roles of NGO in implementing corporate governance, and ways to take on corporate governance staff to assist the board to exercise their duties. As for stewardship of institutional investors, based on their hands-on experience of the industry, the panelists analyzed ways to protect and increase the value of clients’ assets through bilateral cooperation.
In the second session “Board Function and Responsibility,” panelists Clark Chen (Chairman of TN Soong Foundation), Paul G. Levenson (Director of Boston Regional Office of the U.S. Securities and Exchange Commission), John Lim Kok Min (Immediate Past Chairman, Singapore Institute of Directors), Gillian Wilmot (Founder & CEO, Board Mentoring) discussed how corporations provide resources for the board to appropriately exercise their powers and functions. In terms of corporate operation, decision makers and supervisors should value corporate governance while pursuing corporate interests; this is the current global trend. At the same time, enterprises should regard this as their goal and support the board in this respect.
Following the 12th Taipei Corporate Governance Forum, the U.S. SEC Regional Training Program will be held for four days starting from October 16. The program will focus on anti-money laundering, insider trading, and supervision trend. Attendees will discuss supervisory cases in global financial market, and hopefully in this way, supervisory practice in the global capital market can be shared and discussed by each representative of related institutions to facilitate communication and exchange.
According to FSC, the attendees of the conference included board of directors, supervisors, general managers of listed companies, and financial institutions. Government officials, representatives of academic research institutes, and the press also attended. The total number of attendees at the conference was over 600 people. Foreign attendees included representatives from supervisory authorities, corporate governance research institutes, stock exchanges, and other related institutions in Asia (inclusive of Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Thailand and Vietnam).
Vice Premier Jun-ji Shih gave a speech on “The Evolving Landscape of Corporate Governance”. Shih pointed out, in response to global trends, on January 7, 2003, the Executive Yuan set up “Corporate Governance Reform Task Force”, discussing and researching a range of issues related to corporate governance. In November of the same year, “Agenda and Action Plan to Strengthen Corporate Governance” was proposed, serving as the foundation of corporate governance implementation. The subsequent execution of policies that followed, along with the establishment of relevant regulations, has built a solid foundation for corporate governance system development. To expedite reform, in addition to setting up more specific legal framework and enhancing “Corporate Governance Best Practice Principles for TWSE/TPEx Listed Companies,” the Corporate Governance Center of Taiwan Stock Exchange was established for more active communication with listed companies, thus effectively strengthening Taiwan’s corporate governance.
Mr. Anthony Flintoff, General Manager of S&P Global Ratings lectured on “The New Direction of Asian Corporate Governance.” According to Flintoff, the overall quality of corporate governance, in addition to regulations and law enforcement efficiency, relies predominantly on corporate internal system, including integrity of strategy, operational efficiency, response to market changes, and risk management system, all of which play crucial roles. He also presented rating criteria by actual cases and discussed how to fortify corporate governance and improve corporate competitiveness.
Ms. Kerrie Waring (International Corporate Governance Network; ICGN) and Mr. Jeffrey R. Williams (ACGA Council Member) moderated “Corporate Governance Ecosystem” and “Board Function and Responsibility” panel discussions, respectively. In the first session “Corporate Governance Ecosystem,” panelists Benson W. C. Liu (Chairman of Taiwan Corporate Governance Association), Waratchya Srimachand (Senior Assistant Secretary-General of Securities and Exchange Commission, Thailand), Leo Seewald (Managing Director, Chairman and Country Head of BlackRock Investment Management), and Stephen Po (Executive Director of Market Conduct, Insurance Authority, Hong Kong) respectively shared their opinions on ways to construct a complete corporate governance ecosystem for corporate governance model improvement in Asia, roles of NGO in implementing corporate governance, and ways to take on corporate governance staff to assist the board to exercise their duties. As for stewardship of institutional investors, based on their hands-on experience of the industry, the panelists analyzed ways to protect and increase the value of clients’ assets through bilateral cooperation.
In the second session “Board Function and Responsibility,” panelists Clark Chen (Chairman of TN Soong Foundation), Paul G. Levenson (Director of Boston Regional Office of the U.S. Securities and Exchange Commission), John Lim Kok Min (Immediate Past Chairman, Singapore Institute of Directors), Gillian Wilmot (Founder & CEO, Board Mentoring) discussed how corporations provide resources for the board to appropriately exercise their powers and functions. In terms of corporate operation, decision makers and supervisors should value corporate governance while pursuing corporate interests; this is the current global trend. At the same time, enterprises should regard this as their goal and support the board in this respect.
Following the 12th Taipei Corporate Governance Forum, the U.S. SEC Regional Training Program will be held for four days starting from October 16. The program will focus on anti-money laundering, insider trading, and supervision trend. Attendees will discuss supervisory cases in global financial market, and hopefully in this way, supervisory practice in the global capital market can be shared and discussed by each representative of related institutions to facilitate communication and exchange.
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Update：
2018-10-26