Shareholder Rights Directive II

Shareholder Rights Directive II

Compliance with the reviewed Shareholder Rights Directive and its implementing regulation is expected on 3 September 2020.

Relevance to EU and non-EU CSDs

  • it impacts EU CSDs (in their role described by the directive as a first intermediary) for EU shares and share-like instruments (instrument scope depends on the local transposition);
  • it also impacts EU CSD participants, including EU and non-EU CSDs holding these assets – so should a CSD have a link to another EU CSD for shares (and other instruments under the scope), it should be compliant;
  • it requires to identify the shareholder, to transmit the information and to facilitate the exercise of rights;

Ahead of this date, please find the necessary information that would help you to comply with the Directive and its implementing regulation.

Documents to help you comply with SRD II

Shareholder identification
General Meeting
Messaging and Connectivity
Golden Operational Record


Video on the SRD II compliance

Ahead of the Compliance deadline, ECSDA and other associations from the SRD II Steering committee organised the webinar on SRD II. In a single video, you will find all you need to know how to comply with SRD II and where to find further information you may need.

Slides of the webinar