Joint Associations letter on a transition period towards full compliance with SRD II

Joint Associations letter on a transition period towards full compliance with SRD II

Ahead of the compliance deadline with the reviewed Shareholder Rights Directive on 3 September 2020, ECSDA and 9 other European associations reiterated the importance for the authorities to support smooth compliance with its requirements. On 1 September,  the Associations sent a joint letter to the European Commission Directorate-General for Justice and Consumers (DG JUST) and ESMA.

In June, the European Commission dismissed a call from the European financial services sector for a twelve-month delay that was needed in view of the status of market readiness, further impacted by the COVID-19 outbreak. In the view of the DG JUST, the pandemic made it even more important for shareholders to communicate electronically and to vote remotely at annual general meetings. The Associations are fully committed to supporting the market. In this new letter to the Commission and ESMA, they shed light on the operational aspects of compliance with SRD II in further detail and kindly asked, amongst others, to enable a smooth adoption with a transition period towards full implementation.

Read the full letter

For more information on how to comply with SRD II, visit the ECSDA SRD II website.

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