CONAPA, the Association representing individual Italian shareholders released a press release concerning the initiative by Bruno Tabacci, MP and Chairman of CONAPA, to launch home banking applications to support individual shareholders’ rights of participation in Annual General Meetings (AGMs).
The Consolidation Act regarding the provisions for financial intermediation, in compliance with Italian legislation and the European Union Directives, has established a specific regulation aimed at facilitating the participation in social meetings by individual shareholders and fostering their active participation as well as simplifying proxy request. The current procedure to exercise the right to attend the meeting is particularly detrimental to small shareholders.
The government is committed to implementing electronic certificates to facilitate the participation of small private shareholders in meetings and more initiatives are expected.
The full press release can be found on CONAPA’s website in Italian.