The number of unauthorized short-term trading of shares by companies’ interested parties increased in the first half of the year from a year ago, the Financial Supervisory Commission said yesterday, citing the latest government data.
Under the Securities and Exchange Act (證券交易法), gains made from short-term trading of stocks — where the time between buying and selling is less than six months — by company insiders must be disgorged to the company, the commission said.
The number of offenders in the first half was tallied at 158 corporate insiders across 117 companies, who disgorged NT$13 million (US$397,335) in trading profits, compared with 144 cases and NT$43 million in the same period last year, data show.
Last year, the total cases of unauthorized short-term trading by company insiders reached 279, and NT$58 million in trading gains disgorged, the commission said.
“Facing difficulties in convicting suspected insider trading activities, the commission hopes the measure will help deter insiders from taking advantage of non-public information,” Securities and Futures Bureau Deputy Director-General Wang Yung-hsin (王詠心) said at a news conference.
Since 2011, the number of cases has been lower than 300, Wang said. The commission has targeted to reduce the figure to less than 150, she said.
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