Shareholder Rights Directive looks to improve Corporate Governance among issuers. Major highlights are:
Issuers can obtain shareholder identification with the objective of engaging directly with the investor
Say on pay: remuneration policy and voting on remuneration must take place during the General Meeting
Some transactions: such as intra-group transactions – between a company and its affiliates or between two affiliates of the same holding company- must be approved at the General Meeting
Investment strategy: institutional investors, such as asset managers, pension funds or insurance companies, must establish an investment strategy and publish associated reports in a timely fashion
Transparency of proxy advisors: proxy advisors should establish accurate and reliable voting recommendations.
Proxy advisors will have to publish a report on their compliance with the code of conduct of proxy advisors