Taiwan Life continues to enhance its compliance system and relevant measures, and conducts semi-annual compliance self-evaluations to ensure that all business and operations comply with the regulatory requirements. We have formulated Compliance Risk Assessment and Reporting Guidelines and complete the Compliance Risk Assessment Report before the end of April every year in accordance with the regulations. The assessment results and optimization measures are reported to the Board of Directors. Each unit is required to comply with external laws and regulations when conducting business. If there is any violation, the Compliance Department is responsible for supervising each unit to analyze the reasons for the deficiency, evaluate the potential impact, and put forward improvement plans.
The Chief Compliance Officer also reports to the Board of Directors and the Audit Committee semi-annually, keeping the Board of Directors and relevant senior management informed of the implementation of legal compliance matters. In addition to meeting the regulatory requirements at the time of appointment, the Chief Compliance Officer, Compliance Department personnel, and the compliance officers of each business unit also receive at least 15 or 20 hours of on-the-job training every year.