On January 6th, 2015, Taiwan Stock Exchange (TWSE) announced an update to Article 8-2 of “Taiwan Stock Exchange Corporation Procedures for Verification and Disclosure of Material Information of Companies with Listed Securities” (Material Information Procedures) specifying that listed domestic companies must voluntarily hold or participate in investor conferences at least once every three years in the territory of the Republic of China. This will elevate the level of transparency and access of financial and business information for investors, thereby achieving the goal of “circulating securities and prospering the economy.”
　
The statistics show that there are a total of 257 listed domestic companies that convened investor conferences in 2014, accounting for 32 percent of total domestic companies listed on TWSE. Furthermore, TWSE convened 56 presentations on the performance of listed domestic companies in 2014, which received enthusiastic levels of attendance and response. TWSE not only invited three major institutional investors, four government-run funds, and the media, but also featured a live broadcast on the Internet for general investors (http://webpro.twse.com.tw/).
　
Investor conferences serve as an important investor relations activity for listed companies. Currently, large-scale listed companies and those with sound structures have been invited to participate in quarterly or irregular investor conferences. After the revision of regulations this time, companies in traditional industries or small and medium companies that have good operating performance but low stock trading volume, or companies with less transparent financial and operational information should all conduct investor conferences to improve the information transparency of the overall securities market.
　
TWSE states that listed companies can explain industry changes and future operating outlooks by face-to-face communications with investors by holding conferences, in addition to making regular declarations reporting revenue, earnings and other financial and business information. Thereby enhancing the transparency of corporate information. Investors may check information related to conferences on the Market Observation Post System (MOPS). There are also complete video recordings of domestically voluntarily held conference available for reference at http://mops.twse.com.tw/mops/web/t100sb02_1. The corporate websites of various listed companies also offer related information.
　
Furthermore, to encourage companies to communicate with investors by holding investor conferences, TWSE has already incorporated the factor “whether listed companies have held investor conferences at least two times each year” into an evaluation indicator for the “Corporate Governance Evaluation”. Thereby enhancing the transparency of company information and strengthening corporate governance.