• TAI FSC proposed amendments to securities and exchange act re major shareholding.

Amendments

• Lower the threshold for the declaration of substantial shareholding, from 10% to 5%.
• To allow sufficient time to prepare and respond to amendments of relevant supporting laws and regulations, a transition period of one year has also been proposed.
• Raise the upper limit of fines for securities firms, securities service firms, and other securities-related firms, that have not fully implemented internal control systems.

Effectiveness

• Major shareholding Consultation paper will be published soon; consultation will last 60 days from then.