Tighter rules on executive firings begin next monthBy Kao Shih-ching / Staff reporterTightened rules on removing executives at publicly traded companies are to come into effect next month, barring board directors from proposing such dismissals through extraordinary motions, the Financial Supervisory Commission said yesterday. Currently, board directors can make notification of such motions seven days before a board meeting. The logos of the Financial Supervisory Commission and the Securities and Futures Bureau are pictured in Taipei in an undated photograph. The tightened rules also apply to extraordinary board meetings, and the commission is to have the authority to specify under what conditions board directors can convene such meetings, the bureau said. “Several companies suggested clearer conditions for holding extraordinary board meetings, as current regulations only apply to meetings in the case of emergency,” bureau Chief Secretary Kao Ching-ping (高晶萍) said.

Source: Taipei Times July 29, 2022 02:47 UTC