Several shareholders raised their voice in reaction to the recent Shareholders Rights Directive proposal and criticism emerged amongst stakeholders during the annual conference of the International Corporate Governance Network (ICGN) in Amsterdam.
ICGN believes the proposal to be too detailed, thus potentially inhibiting dialogue between companies and shareholders.
Susannah Haan, secretary general of EuropeanIssuers, also pointed out the “overkilled” proposal to increase disclosure on remuneration.
Peter Montagnon, panel moderator and associate director of the Institute for Business Ethics, went so far as to argue that the European Commission had ignored stakeholders during extensive consultations.
The potential conflicts of interest arising from proposed rules for related party transactions are a concern for Rients Abma, chief executive at Eumedion – the Netherlands-based corporate governance and sustainability forum of 69 institutional investors, representing €3trn in assets.
Please read the Investment & Pensions Europe article here.