Important Measures
Amendments to Form 8-7 of Article 23 of the “Regulations Governing the Preparation of Financial Reports by Securities Issuers”
2020-11-17
In response to a 19 May 2020 amendment to Article 14, Paragraph 5 of the Securities and Exchange Act which introduced a new provision to mandate TWSE/TPEx listed companies to disclose their remuneration policy, and the remuneration of directors and supervisors in their annual financial reports, the FSC amended Form 8-7 of Article 23 of the aforementioned Regulations on 21 October 2020. The main amendments are as follows:
1.TWSE/TPEx listed companies should additionally disclose the remuneration of the supervisors (the form prior to amendment only asked the companies to disclose the remuneration of directors) and the company’s remuneration policy (including 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 parent company only financial reports starting from the year 2020.
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- Update： 2020-11-17
