Legal Certainty of Securities Holdings and Disposition

The legal information flows regarding securities holdings and disposition should be simplified, made fully available to real (economic) shareholders and issuers via the Internet, to no extra cost for retail investors, especially for cross-border holdings and for the exercise of cross-border voting rights, either directly or via proxies. The necessary holding and disposition information services from the real (economic) shareholder to the issuer should be split from the custody services currently performed by financial intermediaries.

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