SRD II implemented in Belgian law – consequences for listed companies, institutional investors and some other intermediaries
On 16 April 2020, the Belgian Parliament adopted a new law transposing Directive (EU) 2017/828 of 17 May 2017 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement (also known as the Shareholders’ Rights Directive II – “SRD II”).
SRD II focuses on listed companies. It aims at encouraging long-term shareholder engagement, ensuring enhanced transparency and promoting discussions between issuers and investors. SRD II and its implementation in Belgium bring new rules on shareholder identification, shareholders’ meetings, remuneration disclosure, related party transactions, the engagement of institutional investors and asset managers, etc.
The main changes brought by SRD II to the Belgian corporate law landscape are highlighted in the linked note.