:::

New Benchmark for Corporate Governance: 7 Domestic Institutions Take the Lead in Disclosing Shareholders Meeting Voting Results

2024/01/23

In alignment with the Financial Supervisory Commission's (FSC) efforts to enhance institutional investor corporate governance, TDCC announced the launch of a one-stop “Shareholder Meeting Voting Result Disclosure Service on Each Separate Proposal” service at the end of 2022. As of January 17, 7 institutions including Taiwan Fire & Marine Insurance, CTBC Investment Trust, President Securities, Cathay Securities, King’s Town Bank, Cathay Century Insurance, and E.SUN Bank have already adopted this service. They have collectively disclosed voting results for over 800 TWSE-listed and TPEx-listed companies, setting a new benchmark for corporate governance in Taiwan.

Disclosing voting results on each separate proposal is an international standard practice adopted by institutions such as Norges Bank, and major U.S. asset management firms like BlackRock, Vanguard, and Fidelity. This measure not only demonstrates accountability to the public but also serves as an incentive for companies to improve their performance. Through TDCC's voting result disclosure service on each separate proposal, Taiwanese investors can now assess the voting results of various domestic institutional investors and evaluate companies' corporate governance practices.

Ms. Chen-Chen Huang, Senior Vice President of TDCC's Issuer Services Department, highlighted that promoting disclosure on each separate proposal of institutional investors' votes is a key focus for TDCC this year. She expressed gratitude to the 7 pioneering institutions. In addition to the voting disclosure on each separate proposal service, in line with the FSC's “Sustainable Development Action Plans for TWSE- and TPEx-Listed Companies (2023)," another focus of TDCC this year is on corporate governance services. Ms. Huang emphasized that TDCC is currently planning to enhance functionalities in the investor relations platform to facilitate the digital production of corporate governance reports for institutional investors. The trial run is expected to take place later this year.

Starting January 20 of this year, institutional investors can access and maintain their 2023 voting results. For more information, please visit TDCC's “ESG IR Platform” for Shareholder Meeting Voting Disclosure Service on Each Separate Proposal at https://irplatform.tdcc.com.tw/ir/en

ESG IR Platform,Shareholder Meeting Voting Disclosure Service on Each Separate Proposal