A coalition of sustainability and investment groups including Share Action and led by the think tank E3G have published a Sustainable Finance Plan for the European Union. The group argues that arguing that to more investment in the EU could be achieved if there is a focus on responding to Europe’s social and environmental problems. The report includes a range of recommendations […]
Read MoreEU capital market union is being hampered by a silo-ed approach to corporate governance policy, according to a report, Governance Policy in the European Union: Through an Investor’s Lens, published by the CFA Institute. The report, the result of engagement with more than 30 investment practitioners, governance experts, and other stakeholders from across Europe, suggests that a joined-up […]
Read More
The Slovenian Shareholders Association (VZMD) says that a European Court of Justice (ECJ) ruling backs their claim for a settlement from the Slovenian government after it restructured its banking sector, including nationalising six banks, during 2013 and 2014. The European Commission gave the government permission to provide state aid for this restructuring – which followed the 2007 global banking crisis. […]
Read More
The European Parliament’s Committee on Economic and Monetary Affairs has backed the decision by European Commission President Jean-Claude Juncker to transfer the EU’s financial stability, financial services and capital markets union portfolio to the Commission’s Vice-President Valdis Dombrovskis. This follows the resignation of the British Commissioner Jonathan Hill after the UK’s referendum result which was in favour of leaving the EU. […]
Read MoreUncertainty now surrounds the status of the Shareholder Rights Directive following the UK’s Brexit referendum result. The Directive is currently stalled at the trialogue stage involving negotiations between the Commission, Parliament and country representatives. The UK has been a vocal advocate on promoting better governance and sustainability reporting in recent years. For example, the latest rules on […]
Read MoreFrench regulator AMF has found that France is the only country where governance codes are drawn up by bodies representing issuers and where code amendment to its code are not subject to a prior public consultation on the website of the entity responsible for drafting the code. The French financial regulator, the Autorite des Marches Financiers (AMF) has published […]
Read MoreWith the EU’s audit regulation and audit directive coming into force in June the UK’s Financial Reporting Council (FRC) is consulting on its new audit enforcement procedure for audits of Public Interest Entities (PIE) – which include listed companies, credit institutions and insurance undertakings. The FRC has developed its new audit enforcement procedure in order to fulfill its role […]
Read MoreThe UK government is consulting on how to incorporate the EU’s Non-Financial Reporting Directive into UK law and into the UK’s current company reporting framework. This amends an earlier directive and requires companies, with more than 500 employees, to disclose specific non-financial information as part of the company reporting. The aim is to provide investors and other stakeholders with a more […]
Read MoreThe amended Transparency Directive (TD), which entered into force on 26 November 2015 across the EU brings major new powers to the FCA. One of the key changes is that the FCA can apply to court for a voting rights suspension order against a “vote holder” of shares in a company which are admitted to trading on […]
Read MoreThe European Commission has released proposals which it says will improve access to finance for companies and simplify the information provided for investors. The Commission is making changes to the Prospectus Directive, originally adopted in 2003 and last revised six years ago. Under the proposed changes the directive will become an EU Regulation. The proposals follow […]
Read More