Taiwan Depository & Clearing Corporation

Recently, during the peak season of shareholder meetings, some companies have begun the process of board director elections, resulting in active solicitation of proxy forms. TDCC stated that solicitors who comply with solicitation contracts and pay fees for solicitation services are not engaging in illegal activities, as opposed to those who offer money or other benefits to shareholders in exchange for proxy forms, which constitutes a serious violation of the law.

If shareholders discover instances where solicitors and solicitation service providers offer money or other benefits to purchase proxy forms, they can submit concrete evidence such as audio or video recordings to TDCC for reporting. TDCC will actively investigate such reports in accordance with the law. Upon verification and confirmation of violations by the Financial Supervisory Commission (FSC), a maximum reward of NT$200,000 will be granted to the whistleblower. The reporting hotline is (02)2547-3733.

TDCC urges solicitors and solicitation service providers to strictly comply with legal regulations regarding the solicitation of proxy forms. Any violations found during the investigation will result in the exclusion of the obtained proxy forms from voting rights. Additionally, the offending entities or individuals may face fines ranging from NT$240,000 to NT$4,800,000 according to Article 178 of the Securities and Exchange Act.