Global Commerce Securities Clarifies Media Reports from 4/30
Global Commerce Securities has issued a clarification regarding media reports of workplace bullying. The company stated that the original investigation report was invalid due to procedural flaws and explained its position on a commitment letter and rejection of a compensation demand linked to dropping a criminal case.
📋 Article Processing Timeline
- 📰 Published: April 30, 2026 at 09:00
- 🔍 Collected: May 1, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 1, 2026 at 10:04 (2h 4m after Collected)
1. Date of event: 115/04/30
2. Company Name: Global Commerce Securities Co., Ltd.
3. Relationship with the Company (Enter Parent Company or Subsidiary): Subsidiary
4. Shareholding Ratio: Not Applicable
5. Media Outlet Name: UDN.com and TVBS News Network
6. Report Content: On April 30, 2026, UDN.com published the headline "Global Commerce Securities Vice Chairman Involved in Bullying; Councilor Claims Attempt to Overturn Case and Force Employee to Sign Commitment Letter; Taipei City Labor Bureau: Invalid." TVBS News Network published the headline "Video/Audio: Global Commerce Securities Vice Chairman Involved in Bullying! Councilor Claims Attempt to Overturn Case Through Parent Company, Forcing Employees to Sign Commitment Letter."
7. Reason for Occurrence: Clarification of media reports
8. Countermeasures: Issuance of material information announcement
9. Other matters to be noted:
Regarding today's news reports by some media concerning workplace bullying at our company, we wish to clarify the truth as follows:
I. The original investigation report, due to fundamental procedural defects, cannot be rectified and should be considered invalid.
Regarding the investigation report filed by Mr. Wang on May 13, 2025, it was never submitted to the board of directors. Furthermore, independent directors, in accordance with Article 14-4, Paragraph 4 of the Securities and Exchange Act, Article 218 of the Company Act, and other relevant regulations, interviewed relevant personnel and discovered the following serious procedural flaws: members were not actually appointed by the convener; the former chairman and former general manager participated in signing and approving relevant official documents for this matter, failing to recuse themselves due to conflict of interest, thus violating the company's prevention plan regulations; and the complainant was even involved in subsequent procedures of this complaint. As these issues cannot be rectified, the investigation report is deemed invalid and was reported to the company's Audit Committee and Board of Directors on March 6, 2026. Subsequently, the company informed Mr. Wang of the board's decision on April 1, 2026.
II. Regarding the commitment letter mentioned in the media reports, the company informed Mr. Wang that the aforementioned original investigation report had been submitted to the board for nullification. If Mr. Wang still wished to appeal, the company would continue to organize a handling committee according to regulations to proceed with the relevant procedures; if he wished to withdraw, he was asked to sign a commitment letter and other documents to conclude the case. These were all signed under the premise of respecting the party's wishes, with no coercion involved.
III. We strictly reject exorbitant monetary demands that exceed normal practice and uphold the company's assets and governance red line.
Mr. Wang sent a letter to the company on March 16, 2026, demanding monetary compensation and the withdrawal of the company's "private criminal case" lawsuit against him. Based on our duty to protect the assets of all shareholders, we strictly reject such demands that blur the lines between public and private interests and lack legal justification.
IV. The company hereby declares the following positions:
First, the company respects any labor rights asserted by any person through legitimate channels in accordance with the law.
Second, however, explicitly linking the amount of civil compensation with the withdrawal of a personal criminal case has caused the demand to exceed the scope of a legitimate labor dispute, involving the improper connection of company resources to personal litigation.
Third, based on our fiduciary duty to the assets of all shareholders and the fundamental principle of honest operation for financial institutions, the company legally refuses this demand.
Fourth, the company operates normally and continues to implement corporate governance.
The company's various business operations are normal and are not affected by this dispute. The management team will continue to implement internal control discipline for financial institutions in accordance with the law and defend the legitimate rights and interests of all shareholders. The company reserves all rights to pursue legal action against any behavior that interferes with legitimate corporate governance procedures through external media pressure.
2. Company Name: Global Commerce Securities Co., Ltd.
3. Relationship with the Company (Enter Parent Company or Subsidiary): Subsidiary
4. Shareholding Ratio: Not Applicable
5. Media Outlet Name: UDN.com and TVBS News Network
6. Report Content: On April 30, 2026, UDN.com published the headline "Global Commerce Securities Vice Chairman Involved in Bullying; Councilor Claims Attempt to Overturn Case and Force Employee to Sign Commitment Letter; Taipei City Labor Bureau: Invalid." TVBS News Network published the headline "Video/Audio: Global Commerce Securities Vice Chairman Involved in Bullying! Councilor Claims Attempt to Overturn Case Through Parent Company, Forcing Employees to Sign Commitment Letter."
7. Reason for Occurrence: Clarification of media reports
8. Countermeasures: Issuance of material information announcement
9. Other matters to be noted:
Regarding today's news reports by some media concerning workplace bullying at our company, we wish to clarify the truth as follows:
I. The original investigation report, due to fundamental procedural defects, cannot be rectified and should be considered invalid.
Regarding the investigation report filed by Mr. Wang on May 13, 2025, it was never submitted to the board of directors. Furthermore, independent directors, in accordance with Article 14-4, Paragraph 4 of the Securities and Exchange Act, Article 218 of the Company Act, and other relevant regulations, interviewed relevant personnel and discovered the following serious procedural flaws: members were not actually appointed by the convener; the former chairman and former general manager participated in signing and approving relevant official documents for this matter, failing to recuse themselves due to conflict of interest, thus violating the company's prevention plan regulations; and the complainant was even involved in subsequent procedures of this complaint. As these issues cannot be rectified, the investigation report is deemed invalid and was reported to the company's Audit Committee and Board of Directors on March 6, 2026. Subsequently, the company informed Mr. Wang of the board's decision on April 1, 2026.
II. Regarding the commitment letter mentioned in the media reports, the company informed Mr. Wang that the aforementioned original investigation report had been submitted to the board for nullification. If Mr. Wang still wished to appeal, the company would continue to organize a handling committee according to regulations to proceed with the relevant procedures; if he wished to withdraw, he was asked to sign a commitment letter and other documents to conclude the case. These were all signed under the premise of respecting the party's wishes, with no coercion involved.
III. We strictly reject exorbitant monetary demands that exceed normal practice and uphold the company's assets and governance red line.
Mr. Wang sent a letter to the company on March 16, 2026, demanding monetary compensation and the withdrawal of the company's "private criminal case" lawsuit against him. Based on our duty to protect the assets of all shareholders, we strictly reject such demands that blur the lines between public and private interests and lack legal justification.
IV. The company hereby declares the following positions:
First, the company respects any labor rights asserted by any person through legitimate channels in accordance with the law.
Second, however, explicitly linking the amount of civil compensation with the withdrawal of a personal criminal case has caused the demand to exceed the scope of a legitimate labor dispute, involving the improper connection of company resources to personal litigation.
Third, based on our fiduciary duty to the assets of all shareholders and the fundamental principle of honest operation for financial institutions, the company legally refuses this demand.
Fourth, the company operates normally and continues to implement corporate governance.
The company's various business operations are normal and are not affected by this dispute. The management team will continue to implement internal control discipline for financial institutions in accordance with the law and defend the legitimate rights and interests of all shareholders. The company reserves all rights to pursue legal action against any behavior that interferes with legitimate corporate governance procedures through external media pressure.