By: Tien Yu-pin and Frances Huang
Taipei, May 7 (CNA) The Taiwan Stock Exchange (TWSE), which operates the local main board, will hold four seminars to brief company insiders on the local regulations against insider trading.
Under the securities regulations, insiders of a company are its directors and supervisors, as well as shareholders who hold a stake of more than 10 percent.
The TWSE said the rules governing stock trading by company insiders have become more important, particularly after major shareholders of a biotech firm on the local over-the-counter (OTC) market were accused recently of insider trading.
Prosecutors have launched an investigation into alleged insider trading by major shareholders of OBI Pharma Inc. (浩鼎), who were accused of selling off stocks just before the company reported in February that its new breast cancer drug had failed clinical trials. [FULL STORY]