The new EU Shareholder Rights Directive, internationally also referred to as Shareholder Rights Directive II (SHRD), will come into effect on 3 September 2020. The attempt of an alliance of European financial associations to postpone the implementation again by one year has failed. What effects can be expected on European securities settlement in the future?
On 17 May 2017, the Directive (EU) 2017/828 of the European Parliament and of the Council amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement of exchange-listed companies in the European Union was issued (“Shareholder Rights Directive II”).
- Christian Trnka