The Taiwan Monthly

Listed Companies and Initial Public Offerings

Reinforcing the listing advisory directions to ensure listed company’s compliance with the listing rules and the relevant regulations

The Taiwan Stock Exchange ("TWSE") announced on March 31, 2021 amendments to the listing advisory directions. These focus on two dimensions: one is to strengthen the lead securities underwriters to assist listed companies in complying with ROC laws and regulations and the Taiwan Stock Exchange Corporation Rules Related to TWSE Listing; and the other is to clearly define the scope of legal compliance duties.

Major amendments in the listing advisory directions include:

1. In response to the planned establishment of the Taiwan Innovation Board ("TIB"), the listed companies on the board are included as the main body of the new March 2021 directions. Additionally, the duration of the mandate contract shall be from the initial TWSE listing date of the stock of the TWSE TIB listed company until otherwise reported
2. The duration of the mandate contract for the initial TWSE listing of the stock of the TWSE primary listed company shall be extended from the date of listing; to the two subsequent accounting years to the three subsequent accounting years;
3. In order to strengthen the lead securities underwriter's assistance in mandated companies to comply with the laws and regulations, the lead securities underwriters shall specify the scope of duties to be performed, and adjust the content of the mandate contract; and
4. The lead securities underwriter shall upload a quarterly record sheet to represent the assistance given the listed company’s compliance with the listing rules and the relevant regulations

For further inquiries, please contact Ms. Lo at 1238@twse.com.tw