The Shareholder Rights Directive II

A Commentary

Hanne S. Birkmose, Konstantinos Sergakis (Herausgeber)

Buch | Hardcover

400 Seiten

2021
Edward Elgar Publishing Ltd (Verlag)
978-1-83910-122-9 (ISBN)

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This Commentary is the first comprehensive work to analyse the revised EU Shareholder Rights Directive (SRD II). SRD II sets a new agenda for engaged shareholders and sustainable companies in the EU, sparking a wider debate on the adoption of duties in company and capital markets law. By providing a systematic and thorough framework for analysis, this Commentary evaluates the purpose and aims of SRD II and further enriches the debate on the usefulness of the EU’s drive to encourage long-term shareholder engagement.

Key features include:

article-by-article analysis of each of the provisions as adopted in the revised SRD II

contribution to the ongoing discussions on shareholder rights and duties anticipated to be at the centre of debate for years to come

detailed explanation by leading scholars in the field to ensure complete understanding of each SRD II provision for the reader

exploration of the two pillars of shareholder engagement: the facilitation of shareholder rights and improved communication to bridge procedural gaps and implementation of transparency obligations applicable to companies, investors and service providers.

This Commentary will be a key resource for legal practitioners, legislators, scholars and students alike, working in the fields of corporate governance, alternative dispute resolution and financial law.

Edited by Hanne S. Birkmose, Dean, Faculty of Business and Social Sciences, University of Southern Denmark and Konstantinos Sergakis, Professor, School of Law, University of Glasgow, UK

Contents:

PART I INTRODUCTION
1. SRD II: Political ambitions and regulatory rationales 2
Hanne S. Birkmose and Konstantinos Sergakis
2. Articles 1 and 2: Scope and definitions 18
Marina B. Madsen

PART II IDENTIFICATION OF SHAREHOLDERS, TRANSMISSION OF
INFORMATION AND FACILITATION OF EXERCISE OF
SHAREHOLDER RIGHTS
3. Article 3a: Identification of shareholders 42
Matteo Gargantini
4. Article 3b: Transmission of information 74
Corrado Malberti
5. Article 3c–3f: Facilitation of the exercise of shareholder rights 104
Alessio Bartolacelli

PART III TRANSPARENCY OF INSTITUTIONAL INVESTORS, ASSET
MANAGERS AND PROXY ADVISORS
6. Article 3g: Engagement policy 143
Hanne S. Birkmose
7. Article 3h: Investment strategy of institutional investors and arrangements with
asset managers 164
Hanne S. Birkmose
8. Article 3i: Transparency of asset managers 187
Suren Gomtsian
9. Article 3j: Transparency of proxy advisors 219
Julia Anna Mayer and Ulrich Torggler
10. Article 3k: Review 246
Hanne S. Birkmose

PART IV REMUNERATION OF DIRECTORS
11. Article 9a and 9b: Say on pay 250
Anne Lafarre and Christoph Van der Elst

PART V TRANSPARENCY AND APPROVAL OF RELATED PARTY
TRANSACTIONS
12. Article 9c: Transparency and approval of related party transactions 286
Marcello Bianchi and Mateja Milicˇ

PART VI PENALTIES
13. Article 14a and 14b: Enforcement of SRD II provisions 320
Alessio Bartolacelli, Marcello Bianchi, Hanne S. Birkmose, Matteo Gargantini,
Suren Gomtsian, Anne Lafarre, Corrado Malberti, Julia Anna Mayer, Mateja Milic,
Konstantinos Sergakis, Ulrich Torggler and Christoph Van der Elst

Index 351

Erscheinungsdatum	28.04.2021
Reihe/Serie	Elgar Commentaries in Corporate and Company Law
Verlagsort	Cheltenham
Sprache	englisch
Maße	169 x 244 mm
Themenwelt	Recht / Steuern ► EU / Internationales Recht
	Recht / Steuern ► Wirtschaftsrecht ► Gesellschaftsrecht
	Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management
ISBN-10	1-83910-122-9 / 1839101229
ISBN-13	978-1-83910-122-9 / 9781839101229
Zustand	Neuware