The accountability and responsibility of corporations – examining Taiwan's securities regulatory reform on corporate disclosures
by Andrew Jen-Guang Lin
International Journal of Private Law (IJPL), Vol. 2, No. 4, 2009

Abstract: Shareholders and investors make their investment decisions primarily based on corporate disclosures. However, if a corporation makes false disclosures, what kind of remedies can investors pursue and what legal liabilities should be imposed on the corporation and those who are involved in the wrongdoings? We have been seeing many corporate scandals involving illegally cooking the accounting books around the world. The issue is whether there have been effective mechanisms to prevent corporate scandals to happen, particularly making fraudulent disclosures. This article will discuss the securities law reform in Taiwan regarding corporate disclosure in 2006 and examine whether it has imposed adequate liabilities on responsible persons. Issues arising from the securities reform regarding corporate disclosure will also be identified and discussed.

Online publication date: Mon, 06-Apr-2009

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