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hot_img Samsung Electro-Mechanics' customer evaluation for glass substrates encounters obstacles, delaying equipment investment schedule

According to The Elec, Samsung Electro-Mechanics' investment schedule for semiconductor glass substrates has been delayed due to bottlenecks in the reliability assessment of customer prototypes. As a result, the construction schedule for the production line of GlaSSEM, the glass core joint venture between Samsung Electro-Mechanics and Dongyu Fine Chem, has also been postponed, and the timeline for ordering related equipment has become uncertain.The report states that GlaSSEM has failed to communicate the equipment order schedule to its partner manufacturers. Previous orders have been postponed from December last year to March and June this year, and this has happened more than three times. After June, no further schedule guidance has been provided. Industry insiders believe that the main reason is that global communication semiconductor customers have not passed the reliability assessment certification for glass substrate prototypes. Samsung Electro-Mechanics is still producing prototypes at its Sejong plant, and most of the suppliers for key processes required for building the mass production line, such as deposition, etching, laser drilling, and inspection, have already been selected.Since the prototypes need to be remade and resubmitted, the originally planned investment schedule will inevitably be further delayed. Samsung Electro-Mechanics had set a target for mass production in the second half of 2027 when establishing GlaSSEM earlier last month, but during last month's financial report meeting, this timeline was adjusted to 2028, and now the mass production time is expected to be further postponed.

The chairman of the U.S. SEC plans to restructure the securities regulatory tracking system CAT and explore the possibility of the SEC taking over and reforming the funding mechanism

Chairman Paul S. Atkins of the U.S. Securities and Exchange Commission (SEC) wrote to Robert Walley, Chairman of the Consolidated Audit Trail (CAT) Operating Committee, indicating that the SEC plans to undertake a comprehensive reform of the CAT system, including adjustments to its governance structure, funding sources, and operational model.Atkins stated that during his tenure, the SEC has significantly reduced the annual operating costs of CAT by issuing exemptions and approving amendments to the CAT NMS plan, and has eliminated the requirement to report personally identifiable information (PII) to the CAT system.These reforms have lowered system costs and the scope of data collection, but CAT still faces fundamental issues regarding costs, governance, and funding mechanisms. To address these issues, the SEC released a concept request for comments on April 16, 2026, to conduct a comprehensive review of CAT and other audit trail systems and data sources used in the regulation of U.S. securities markets.The SEC indicated that it has received hundreds of feedback comments, with one core consensus being that investors and market participants want the SEC to take more responsibility for the management and funding arrangements of CAT.Atkins stated that he has asked SEC staff to propose deep reforms for CAT, including: 1. Exploring new funding sources for CAT, including the use of congressional appropriations and transaction fees under Section 31 of the Securities Exchange Act; 2. Drafting rule proposals that, if approved, would repeal Rule 613 and require exchanges, FINRA, and broker-dealers to continue using the existing CAT infrastructure and reporting standards to submit CAT data directly to the SEC or its designated agency; 3. Assessing the internal resource needs of the SEC to prepare for the SEC's future assumption of governance responsibilities for CAT.The SEC expects that this reform will involve multiple stages and will need to be advanced simultaneously, with the overall transition potentially lasting until the end of 2027.
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