The Financial Supervisory Commission (FSC) plans to toughen penalties on securities companies that contravene the Securities and Exchange Act (證券交易法), it said on Tuesday.
The maximum fine for securities companies that breach the act, due to issues such as poor internal controls or professional negligence, would be increased from NT$4.8 million (US$173,486) to NT$6 million, Securities and Futures Bureau Deputy Director-General Tsai Li-ling (蔡麗玲) said.
Under draft amendments to act, anyone who acquires more than 5 percent of a listed company’s shares would need to report the purchase to securities regulators and make a public announcement, compared with 10 percent currently, Tsai said.
Photo: Kelson Wang, Taipei Times
“It is intended to give investors more real-time information when a company’s share structure changes drastically,” Tsai said. “The US, Japan and many countries have used 5 percent as the threshold [for reporting], and now we think it is time for Taiwan’s market to follow suit.”
If investors adjust their shareholding by more than 1 percent, they would also have to make an announcement, she said.
As of the end of last month, there were 3,266 shareholders who each held a stake in a public company of more than 5 percent but less than 10 percent, and they would be asked to make public announcements if the amendments to the act take effect, Tsai said.
The commission expects the amendments to be passed by the legislature by the end of this year, Tsai said.
Investors would be given a one-year grace period to make announcements, she added.
Macronix International Co (旺宏), the world’s biggest NOR flash memory supplier, yesterday said it would spend NT$22 billion (US$699.1 million) on capacity expansion this year to increase its production of mid-to-low-density memory chips as the world’s major memorychip suppliers are phasing out the market. The company said its planned capital expenditures are about 11 times higher than the NT$1.8 billion it spent on new facilities and equipment last year. A majority of this year’s outlay would be allocated to step up capacity of multi-level cell (MLC) NAND flash memory chips, which are used in embedded multimedia cards (eMMC), a managed
CULPRITS: Factors that affected the slip included falling global crude oil prices, wait-and-see consumer attitudes due to US tariffs and a different Lunar New Year holiday schedule Taiwan’s retail sales ended a nine-year growth streak last year, slipping 0.2 percent from a year earlier as uncertainty over US tariff policies affected demand for durable goods, data released on Friday by the Ministry of Economic Affairs showed. Last year’s retail sales totaled NT$4.84 trillion (US$153.27 billion), down about NT$9.5 billion, or 0.2 percent, from 2024. Despite the decline, the figure was still the second-highest annual sales total on record. Ministry statistics department deputy head Chen Yu-fang (陳玉芳) said sales of cars, motorcycles and related products, which accounted for 17.4 percent of total retail rales last year, fell NT$68.1 billion, or
In the wake of strong global demand for AI applications, Taiwan’s export-oriented economy accelerated with the composite index of economic indicators flashing the first “red” light in December for one year, indicating the economy is in booming mode, the National Development Council (NDC) said yesterday. Moreover, the index of leading indicators, which gauges the potential state of the economy over the next six months, also moved higher in December amid growing optimism over the outlook, the NDC said. In December, the index of economic indicators rose one point from a month earlier to 38, at the lower end of the “red” light.
MediaTek Inc (聯發科) shares yesterday notched their best two-day rally on record, as investors flock to the Taiwanese chip designer on excitement over its tie-up with Google. The Taipei-listed stock jumped 8.59 percent, capping a two-session surge of 19 percent and closing at a fresh all-time high of NT$1,770. That extended a two-month rally on growing awareness of MediaTek’s work on Google’s tensor processing units (TPUs), which are chips used in artificial intelligence (AI) applications. It also highlights how fund managers faced with single-stock limits on their holding of market titan Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) are diversifying into other AI-related firms.
RSS