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European Commission Pushing Ahead with New Shareholder Rights Law

Roberta Holland | November 19, 2014

The head of corporate governance for the European Commission said the group is pressing ahead with proposed revisions to the EU’s shareholder rights directive with an eye toward getting the proposal before lawmakers by the summer.

The revised directive, proposed by the European Commission in April, seeks to promote more active shareholders with longer term investment strategies and includes greater authority for shareholders over remuneration policies. The changes would affect roughly 10,000 companies listed on European stock exchanges.

Jeroen Hooijer, head of corporate governance and social responsibility for the European Commission, said during a conference in the Netherlands that the commission is looking to accelerate the revisions, and he expects the proposal to be put before European Parliament next summer, according to a report in Investment & Pensions Europe.

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