2023-12-20 08:56:10
The Financial Supervisory Commission will launch nine new systems in the first quarter of next year.File photo
[Reporter Lin Qiaoyan/Taipei Report]The Financial Supervisory Commission will launch nine major new measures starting next year, including the financial industry’s continued extension of the epidemic relief for enterprises until the end of next year, and the price reduction of insurance policies in various currencies next year.
The first item is the implementation period of enterprise-related financial assistance measures set by the Banking Association in response to the severe special infectious pneumonia epidemic, which is extended to December 31, 2024, and “self-regulatory regulations for member banks to handle corporate creditor and debt negotiation cases transferred by the Ministry of Economic Affairs” “The acceptance period has also been extended to the end of next year. Enterprises that are willing to continue operating and pay interest regularly can apply.
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The second item is that there is an opportunity to reduce the price of policies next year. The applicable interest rates for new contract liability reserves of some currencies will be increased for personal insurance products next year. The applicable interest rates for US dollar policies will increase by 1 to 3 digits depending on the duration of the liability. For Taiwan dollar, Australian dollar and euro policies, the interest rates will increase by 1 digit, 2 digits and 4 digits respectively during the liability duration. The RMB will remain unchanged. This increase in the new contract liability reserve interest rate for some currencies may provide room for a reduction in new contract insurance premiums for some commodities.
In addition, the other seven new regulations are all related to the capital market. The third is that TSMC futures will be included as a night trading commodity to provide traders with more financial tools to manage risks and expand the scale of the futures market. It will be implemented before the end of January 2024.
Fourth, in order to attract international funds to invest in Taiwan’s capital market, all listed companies and OTC companies with paid-in capital of more than 600 million yuan should publish bilingual major messages, which will be implemented from January 1 next year.
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Fifth, the counter buying center plans to integrate the general board and strategic new board of the emerging counter market, and open up the overall emerging counter market to adopt a simple public issuance mechanism, coupled with relevant strengthened supervision measures, so that companies can enter the emerging counter capital market early to raise funds for development. It will be implemented from January 1 next year.
Sixth, the Financial Supervisory Commission will expand the scope of application of listed companies that upload shareholders’ meeting manuals in advance. Listed companies with new capital of more than 2 billion yuan but less than 10 billion yuan should upload shareholders’ meeting manuals and meetings 30 days before the regular shareholders’ meeting. Supplementary information, it will be implemented from New Year’s Day next year.
Seventh, listed (overseas) companies with a capital of less than 2 billion yuan should announce their self-reported financial information for the previous year within 75 days following the end of the accounting year to improve the timeliness of financial information announcements for listed oversea companies. Starting from January next year It will be implemented from January 1st.
Eighth, in order to comply with environmental protection and carbon reduction, and save industry operators the cost of sending paper notifications, the CHEP Clearing House’s “Electronic Notification Platform for Equity Affairs” has added an electronic notification service (ETF eNotice) for the distribution of ETF income, which will replace the current paper version of ETFs. This income distribution notice will be converted to an electronic notice to promote the securities market towards the global 2050 net-zero emissions goal, which is expected to be implemented before March 19, 2024.
Ninth, in order to encourage foreign shareholders to actively participate in the shareholders’ meetings of China’s publicly listed companies and improve corporate governance, the CHEP will supervise the addition of an English version of the functional interface of the shareholders’ meeting video conferencing platform, promote shareholder activism, improve information fairness, and encourage foreign shareholders Participation in the video meeting of shareholders is expected to be implemented before the end of March next year.
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