Update

Winkler Partners ranked in Chambers Asia Pacific Guide (2014)

Winkler Partners has been ranked in Chambers Asia Pacific Guide (2014) for its insurance, intellectual property, and employment practices.  The guide notes Winkler Partners’ focus on intellectual property work related to Taiwan’s technology industry in its overview of the Taiwan legal services market.

Partner Chen Hui-ling is recognized as a noted practitioner for her insurance work as is Peter Dernbach for IP.

Winkler Partners closed for Lunar New Year

Our office is closed from 30 January to 4 February for the Lunar New Year. Please direct any inquiries or urgent matters to info@winklerpartners.com. Happy Year of the Horse.

Peter Dernbach on Taiwan’s new exclusionary measures against patent infringing goods

The World Intellectual Property Review recently interviewed WP’s Peter Dernbach on Taiwan’s new border interdiction measures for goods infringing on Taiwanese patents. Patent owners will be able apply to detain infringing goods being imported into Taiwan but must provide a security bond and file an action for patent infringement within 12 days. The new measure are expected to come into effect in two months.

Taiwan bar exam results and number of practicing lawyers (2013)

Taiwan bar exam takers have a pass rate about 10% in 2013 with 892 candidates passing the two-stage examination. In 2011, 964 passed followed by another 915 in 2012. The total number of licensed lawyers is now 13,375.

Despite the increasing number of lawyers, the Ministry of Justice’s statistics for practicing lawyers for the same period show a more modest  increase. According to the Ministry, 6,895 lawyers were practicing in 2011. In 2013, 7,656 lawyers were practicing in the world’s 19th largest economy with a population of 23 million people.

According to Ministry of Examination figures, the pass rate for the 2011 exam was 10.38%. After passing the bar, candidates must undergo one month training by the Taiwan Bar Association and complete a five-month internship.

Taiwan’s bar exam passage rates can be divided into three periods:

  • 1950-1988: 782 candidates passed with average annual pass rate of 6.76%
  • 1989-2010: 8,404 candidates passed with an average annual pass rate of 8.81%
  • 2011-2013: 2,770 candidates passed with average annual pass rate of 10.55%.

Taiwan’s universities currently have a total of 39 departments of law producing about 3,000 graduates each year.

Translations of Taiwan securities laws and regulations updated

Taiwan’s official portal for securities-related laws and regulations was recently updated with changes to nine of its English translations by Winkler Partners.

The Winkler Partners Translation Department has produced the English translations of securities laws and regulations for the portal since 2002. The portal is updated twice a month with new and revised content.

Currently, the site contains 1,455 securities laws and regulations, 644 of which have been translated into English. The site also contains 6,623 administrative letters of interpretation and 1,996 court judgments.

  1. GreTai Securities Market Rules Governing Securities Trading on the GTSM
  2. GTSM Directions Governing Clearing and Settlement Operations for Securities Traded on the GTSM
  3. Regulations Governing Securities Trading on the GreTai Securities Market
  4. Financial-Supervisory-Securities-Firms-10200143751
  5. Financial-Supervisory-Securities-Firms-1020014375
  6. Securities and Exchange Act
  7. GreTai Securities Market Procedures for Suspension or Termination of Securities Firm Operations
  8. GreTai Securities Market Regulations Governing Applications by Securities Firms for Resumption of Business after Suspension
  9. GreTai Securities Market Rules Governing Trading of Exchange-Traded Fund Beneficiary Certificates
  10. GreTai Securities Market Operation Directions Governing Liquidity Providers of Exchange-Traded Fund Beneficiary Certificates
  11. GreTai Securities Market Guidelines for Providing Financial Derivative Services to General Customers
  12. GreTai Securities Market Rules Governing the Repurchase of Taiwan Depositary Receipts by Secondary Listed Companies
  13. GreTai Securities Market Administration Rules for Financial Derivative Trade Database
  14. GreTai Securities Market Contract for Financial Derivative Trade Database
  15. GreTai Securities Market Operation Directions for the System for Early Settlement of Financial Derivatives Transactions

Rectifying names: changes to the training of Taiwanese judges?

The Judicial Personnel Study Center and the Training Institute for Judges and Prosecutors both announced on  1 July 2013, that they were adopting new names. The Judicial Personnel Study Center, which is under the purview of the Judicial Yuan, will now be called the ‘Judges Academy’, while the Training Institute for Judges and Prosecutors, which is governed by the Ministry of Justice, has been renamed ‘Academy for the Judiciary’.

Under the current system, candidates who have passed a national exam both undergo their training at the Ministry of Justice’s Training Institute for Judges and Prosecutors, before they become judges or prosecutors. The focus of the Judicial Yuan’s Judicial Personnel Study Center, on the other hand, has been on advanced studies for existing judges and prosecutors. However, it was indicated on Monday that the Judicial Yuan is now considering a separation of the two institutions by having future judges undergo their training at the renamed Judges Academy instead.

The name change may indicate that the Judicial Yuan, Taiwan’s judicial branch,  intends to distance itself from the executive branch of government and gain more autonomy over judicial education. The current system of judicial education sees the Ministry of Justice, an executive branch agency, being significantly involved in the education of future judges, which, it has been argued, is a matter that should be overseen by the Judicial Yuan. By establishing different education tracks for judges and prosecutors, a clearer distinction can be made between judges and prosecutors. The Director of the Judges Academy also expressed the Judicial Yuan’s intention to revise the current system of professional certification for judges, awarding Civil and Criminal special certification to judges who meet the criteria for quality, experience, and training background. This is in an effort to maintain high standards of professionalism in judges.

Under the Judicial Personnel Act, both judges and prosecutors fall under the same category of definition as ‘judicial officers’ (sifaguan), and are subject to the same regulations. For the complete separation of judges and prosecutors to take place, statutory revision may also need to occur. However, the changing of the names of the two institutions can be seen as a first step towards a clearer distinction.

Restrictions on what Taiwan job candidates can be asked

Taiwan’s labor regulator recently revised its Enforcement Rules for the Employment Services Act following the Act’s amendment late last year.

In November, the Legislature enacted an amendment to the Employment Services Act prohibiting employers from asking employment candidates “to provide private information not necessary for employment.” ESA § 5 (translation revised).

The recent revision to the Enforcement Rules lists specific types of private information subject to this rule. These include

  • Physical: DNA test results, results of tests for controlled substances, results of medical testing, HIV or IQ test results, and fingerprints.
  • Mental: psychological testing results and  truthfulness or lie detector tests
  • Personal Information: credit records, criminal records, plans to have children, and background checks. Enforcement Rules  § 1-1.

When  employers ask employees to provide these kinds private information, they are not permitted to exceed the necessary scope of their specific objectives based on economic need or protection of the public interest. In addition, the private information must bear a legitimate and reasonable  relationship to the employer’s objective.

Employers who ask their employees to provide private information irrelevant to employment are subject to an administrative fine ranging from NT$60,000 (c. US$2,000) to NT$300,000 (c. US$10,000).

Translations of Taiwan securities laws and regulations updated

Taiwan’s official portal for securities-related laws and regulations was recently updated with changes to nine of its English translations by Winkler Partners.

The Winkler Partners Translation Department has produced the English translations of securities laws and regulations for the portal since 2002. The portal is updated twice a month with new and revised content.

Currently, the site contains 1,453 securities laws and regulations, 603 of which have been translated into English. The site also contains 6,578 administrative letters of interpretation and 1,881 court judgments.

  1. Contract for the Listing of Taiwan Depositary Receipts on GTSM
  2. GreTai Securities Market Standards Governing Securities Firm Sites and Facilities
  3. GreTai Securities Market Guidelines for Determining Foreign Investment Holding Companies
  4. GreTai Securities Market Operational Regulations Governing Securities Firms Recommending Trades in Securities to Customers
  5. Contract for Trading of Securities on the Over-the-Counter Market by a Securities Firm
  6. GreTai Securities Market Account Opening Agreement for GTSM listed Securities
  7. GreTai Securities Market Regulations Governing Trading of Foreign Stocks and Taiwan Depository Receipts
  8. GreTai Securities Market Directions for Reporting and Handling of Out-Trades and Account Number Corrections by Securities Brokers
  9. GreTai Securities Market Specific Standards and Procedures for Determining Eligibility of Securities for Margin Purchase and Short Sale Transactions
  10. GreTai Securities Market Operational Guidelines for Omnibus Trading Accounts
  11. GreTai Securities Market Risk Declaration Statement for GTSM-listed Foreign Securities (Template)
  12. Operating Rules for Securities Firms Handling Margin Purchases and Short Sales of Securities
  13. Operational Procedures for the Review of Foreign Securities for Listing by the Taiwan Stock Exchange Corporation
  14. Operating Rules of the Taiwan Stock Exchange Corporation
  15. Taiwan Stock Exchange Corporation Procedures for Routine Regulation and Regulation by Exception Over Financial and Business Affairs of Listed Companies
  16. Taiwan Stock Exchange Corporation Procedures for Review of Financial Reports of Listed Companies
  17. Supplementary Provisions to the Taiwan Stock Exchange Corporation Rules for Review of Securities Listings
  18. GreTai Securities Market Supplemental Rules Governing Applications by Group Enterprises for GTSM Listing of Stock
  19. GreTai Securities Market Rules Governing Securities Trading on the GTSM
  20. GreTai Securities Market Operation Directions for the Administration of GTSM primary Listed Companies
  21. GreTai Securities Market Principles for Handling Information Disclosure on the Taiwan Depository Receipt Key Financials Section of the Market Observation Post System
  22. Procedures and Timeframes for Handling Events Under Article 12-1 of the GreTai Securities Market Rules Governing Securities Trading on the GTSM
  23. GreTai Securities Market Securities Borrowing and Lending Rules
  24. GreTai Securities Market Rules for Administration of the Joint Responsibility System Clearing and Settlement Fund
  25. Rules on Lending of Book-Entry Central Government Bonds by Securities Firms
  26. Taiwan Stock Exchange Corporation Procedures for Verification and Disclosure of Material Information of Companies with Listed Securities
  27. Taiwan Stock Exchange Corporation Rules Governing Review of Securities Listings
  28. GreTai Securities Market Directives for Auditing Internal Control Systems of GTSM listed Companies
  29. GreTai Securities Market Procedures for Verification and Disclosure of Material Information of Companies with GTSM Listed Securities
  30. GreTai Securities Market Procedures for Press Conferences Concerning Material Information of Companies with GTSM Listed Securities
  31. GreTai Securities Market Supplemental Directions for Applications by Investment Holding Companies for Over-the-Counter Listing
  32. GreTai Securities Market Procedures for Review of GTSM Trading of Foreign Securities
  33. GreTai Securities Market Rules Governing Information Reporting by Companies with GTSM Listed Securities
  34. Guidelines for Account Opening and Futures Trading by Insiders of Futures Introducing Brokers Opening Accounts to Engage in Futures Trading
  35. Guidelines for Account Opening and Futures Trading by Insiders of Futures Commission Merchants
  36. GreTai Securities Market Regulations Governing Over-the-Counter Trading of Financial Derivatives by Securities Firms

Executive Yuan approves bill to amend Intellectual Property Adjudication Act

Taiwan’s Executive Yuan has approved a bill to amend three articles of the Intellectual Property Adjudication Act (IPAA). The bill was drafted based on recommendations by the Judicial Yuan’s Committee on Trial Procedures for Intellectual Property Cases.

In addition to some minor technical changes, the bill clarifies that Technical Examination Officers may “provide assistance” in  precautionary proceedings and enforcement proceedings. IPPA §4.  Precautionary proceedings are proceedings for remedies including preliminary injunctions and attachment. The current language of Article 4 limits the  role of Technical Examination Officers to assisting the court in investigating evidence to preserve it and was silent on whether they had any role in enforcement proceedings.

The bill also establishes the appellate jurisdiction of the Intellectual Property Court over criminal violations of  orders to preserve the confidentiality of trade secrets.

Following approval by the Executive Yuan, the bill was sent to the Legislature for consideration. If enacted, the bill will be the first amendment to the IPAA since it took effect in 2007 just before the establishment of the Intellectual Property Court.

Translations of Taiwan securities laws and regulations updated

Taiwan’s official portal for securities-related laws and regulations was recently updated with changes to nine of its English translations by Winkler Partners.

The Winkler Partners Translation Department has produced the English translations of securities laws and regulations for the portal since 2002. The portal is updated twice a month with new and revised content.

Currently, the site contains 1,453 securities laws and regulations, 587 of which have been translated into English. The site also contains 6,562 administrative letters of interpretation and 1,851 court judgments.

  1. Taiwan Stock Exchange Corporation Procedures for Press Conferences Concerning Material Information of Listed Companies
  2. Taiwan Stock Exchange Corporation Standards for Determining Whether a TWSE Listed Company Shall Publish Complete Financial Forecasts
  3. Corporate Governance Best-Practice Principles for TWSE/GTSM Listed Companies
  4. Taiwan Stock Exchange Corporation Principles for Handling Information Disclosure on the Key Financials Section of the Market Observation Post System (MOPS)
  5. Taiwan Stock Exchange Corporation Procedures for Applications by TWSE Listed Companies for the Delisting of Securities
  6. Standards for Determining Unsuitability for GTSM Listing under Article 10, Paragraph 1 of the GreTai Securities Market Rules Governing the Review of Securities for Trading on the GTSM
  7. Taiwan Futures Exchange Corporation Trading Rules for Taiwan Stock Exchange Capitalization Weighted Stock Index Options Contracts
  8. Taiwan Futures Exchange Corporation Trading Rules for Mini-TAIEX Futures Contracts
  9. Taiwan Futures Exchange Corporation Trading Rules for Taiwan Stock Exchange Banking and Insurance Sector Index Futures Contracts
  10. Taiwan Futures Exchange Corporation Trading Rules for Stock Option Contracts
  11. Taiwan Futures Exchange Corporation Trading Rules for Taiwan Stock Exchange Stock Index (TAIEX) Futures Contracts
  12. Taiwan Futures Exchange Corporation Trading Rules for Taiwan Stock Exchange Electronic Sector Index Futures Contracts
  13. Taiwan Futures Exchange Corporation Trading Rules for FTSE/TWSE Taiwan 50 Index Futures Contracts
  14. Taiwan Futures Exchange Corporation Trading Rules for Taiwan Stock Exchange Finance Sector Index Option Contracts
  15. Taiwan Futures Exchange Corporation Trading Rules for Taiwan Stock Exchange Electronics Sector Index Option Contracts
  16. Taiwan Futures Exchange Corporation Trading Rules for GreTai Securities Market Stock Index Futures Contract
  17. Taiwan Futures Exchange Corporation Trading Rules for GreTai Securities Market Stock Index Options Contract
  18. Taiwan Futures Exchange Corporation Trading Rules for Taiwan Stock Exchange NonFinance NonElectronics Sub-Index Futures Contracts
  19. Taiwan Futures Exchange Corporation Trading Rules for Taiwan Stock Exchange NonFinance NonElectronics Sub-Index Options Contracts
  20. Taiwan Futures Exchange Corporation Trading Rules for Single Stock Futures Contracts
  21. Taiwan Futures Exchange Corporation Trading Rules for the Gold Options Contract
  22. Taiwan Futures Exchange Corporation Trading Rules for NT Dollar Denominated Gold Futures Contracts
 

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