Back to overview

Guidelines for the Adoption of Codes of Ethical Conduct for TWSE/GTSM Listed Companies, 2015



The aim of the Guidelines are adopted for the purpose of encouraging directors, supervisors, and managerial officers of companies listed on the Taiwan Stock Exchange (TWSE) or Taipei Exchange (TPEx) (including general managers or their equivalents, assistant general managers or their equivalents, deputy assistant general managers or their equivalents, chief financial and chief accounting officers, and other persons authorized to manage affairs and sign documents on behalf of a company) to act in line with ethical standards, and to help interested parties better understand the ethical standards of such companies. Each TWSE/TPEx listed company is advised to establish a code of ethical conduct with reference to these Guidelines, and it may develop respective codes of ethical conduct for different managerial officers. Taking its individual circumstances and needs into consideration, a TWSE or TPEx listed company shall adopt a code of ethical conduct that addresses at least the following eight matters: 1) Prevention of conflicts of interest; 2) Minimizing incentives to pursue personal gain; 3) Confidentiality; 4) Fair trade; 5) Safeguarding and proper use of company assets; 6) Legal compliance; 7) Encouraging reporting on illegal or unethical activities; and 8) Disciplinary measures.

Reporting Exchange






Issuer (type)

Taipei Exchange (TPEx), Taiwan Stock Exchange Corporation (TWSE) (Stock Exchange)

Instrument type


Disclosure instrument


Geographical scope


Mandatory or voluntary


Text analysis

    • Low 0.50%
    • Very High 1.00%
    • E focus: waste
    • S focus: fair trade, children
    • Finance, Management