In 2007, the European Parliament and the European Council adopted the Shareholder Rights Directive (EU) 2017/828 ("SRD II"), amending Directive 2007/36 ("SRD I"). The aim of SRD II is to encourage long-term engagement of EU listed companies’ shareholders and to make share trading more transparent. EU Member States are required to transpose SRD II by 10th June 2019.
To comply with the obligation regarding to the transposition of SRD II, Malta Financial Services Authority ("MFSA") published on 8th May 2019 a Consultation Document. This Consultation Document of the MFSA includes mainly the following proposed changes:
The new obligations of the SRD II shall apply to companies, intermediaries, institutional investors, asset managers, and proxy advisors operating within an EU/EEA Member States, insofar as such company has its registered office in Malta.
In this regard, please feel free to contact us in order to comply with the SRD II requirements.