Taiwan – FSC to Lower Substantial Shareholding Disclosure Threshold

Taiwan – FSC to Lower Substantial Shareholding Disclosure Threshold

On 1 August 2023, TAI FSC proposed revisions to lower substantial shareholding disclosure threshold.

  • TAI FSC proposed to amend Regulations governing the declaration on acquisition of shares in accordance with paragraph 1 of article 43-1 of the Securities and exchange act, to comply with the revised Securities and exchange act articles 43-1 and 183.
  • Follows TAI Justice May 2023 amended Securities and exchange act.


  • Aims to lower the reporting threshold for substantial shareholdings from 10% to 5%.
  • Shareholders will be able to submit their reports through file uploads on the market observation post system (MOPS), to effectively complete the reporting process.
  • Government-managed retirement, insurance funds will be subject to special regime, with semi-annual reporting deadlines within 10 days for initial/subsequent changes.
  • Shareholders with 5% to 10% shares of publicly traded company's total issued shares before implementation date must report within 10 days after the new rules take effect.


  • The new regulations will be effective on 10 May 2024 once approved, consultation will be open for 60 days from the date of the official announcement in the gazette.