Taiwan Depository & Clearing Corporation

TDCC reminds the public that in cases where businesses or non-solicitors unlawfully solicit shareholder meeting proxies or offer money in exchange for proxies, individuals are encouraged to provide concrete evidence when reporting such incidents to TDCC. This will facilitate subsequent investigations.

To safeguard shareholder rights and prevent shareholder meeting disputes, proxy solicitation service providers and those seeking proxies must adhere to relevant regulations. The Financial Supervisory Commission (FSC) mandates TDCC to conduct audits on proxies’ solicitation activities.

Mr. Tzu-Ting Chen, Senior Vice President of TDCC, stated that in recent years, TDCC has been enhancing the education and training of proxy solicitation personnel and strengthening regulatory outreach initiatives. Consequently, there has been a significant improvement in proxy solicitation services in the market, with violations decrease annually. Additionally, TDCC investigates cases of corporate governance disputes or suspected illegal solicitation based on the specific evidence provided, maintaining a neutral and objective stance.

Mr. Chen emphasized that TDCC has encountered instances where reports lacked detailed evidence, hindering effective verification of violations. He advised individuals who discover cases of illegal proxy solicitation to provide recordings, videos, or other concrete evidence of the exchange of money or proxies, along with their reports to TDCC, to protect shareholder rights and rectify market order.

TDCC's reporting hotline: (02) 2547-3733. If violations are confirmed and fines are imposed by the FSC under the Securities and Exchange Act, the whistleblower may be awarded a maximum of NT$200,000.