Broadridge Financial Solutions and Taiwan Depository & Clearing Corporation (TDCC) revealed that the Taiwan stock market has 100 percent e-voting for shareholder meetings.
The achievement brings increased transparency for annual general meetings for shareholders in Taiwan and enhanced corporate governance, which follows a 2014 agreement between Broadridge and TDCC.
The agreement helped establish direct links between Broadridge’s global proxy service and Stockvote, which enabled foreign shareholders to vote in Taiwan for global custodians and their institutional investor clients.
Prior to this development, voting in Taiwan required locally registered shareholders to physically attend meetings.
Demi Derem, who spearheads Broadridge’s international efforts for its investor communications solutions, said: “We are proud to have worked with TDCC to help transition the Taiwan Stock Market to 100 percent e-voting in less than four years.”
Sherman Lin, chairman and CEO of TDCC, commented: “TDCC has been continuously developing services that enhance active ownership, and promoting e-voting and the stewardship code among institutional investors in Taiwan.”
Lin added: “As a result, wider participation of institutional investors has been achieved, and the shareholders’ meetings have become more effective and efficient with respect to voting by poll as well as a nomination system for candidates of directors and supervisors.”
