TW-Listed Companies
Regulator: TWSE / TPEx (MOPS).
Insider share transfer declarations in Taiwan
Declare first, sell three days later
Taiwan regulates insider selling before it happens. Under Article 22-2 of the Securities and Exchange Act, directors, supervisors, managers and shareholders holding more than 10% of a public company may sell on the market only after declaring the transfer to the competent authority, the Financial Supervisory Commission (FSC), and waiting three days from the declaration. No declaration is needed when the insider transfers no more than 10,000 shares in a trading day.
A private transfer to a buyer meeting the FSC's conditions must take place within three days of the declaration, and that buyer carries the same restriction for one year. Shares held by a spouse, minor children or nominees count as the insider's own. The Taiwan Stock Exchange tells insiders to check that the declaration has been uploaded to the Market Observation Post System (MOPS) before transferring, and a newly appointed insider may not sell on the market for six months.
A monthly return on top
Article 25 adds a monthly cycle. When a public company registers, it reports to the FSC and announces the shares held by each insider. Each insider then reports the previous month's change in holdings to the company by the 5th, and the company files a consolidated return with the FSC by the 15th. A pledge over insiders' shares must be reported and announced within five days of being created.
What the MOPS data here shows
Our Taiwanese data comes from the MOPS pre-transfer declaration reports, queried company by company across issuers listed on the Taiwan Stock Exchange (TWSE) and the Taipei Exchange (TPEx). A declaration gives the number of shares an insider intends to transfer. It carries no price and no cash amount, so Taiwanese records here show share counts without a euro value.
The source is classed as holdings. Read each record as a declared intention to sell within the permitted window. The filing comes before the sale and does not confirm it. Companies on the market hub are ranked by the number of filings, 50 per page, and the hub becomes indexable once the market holds 250 filings.