Shareholder Rights Directive III

Contents

1 Adopt strategies gained from practical experience
2 Proposals for SRD III
3 The company bears the costs for informing its shareholders (Article 3d SRD III).
4 Conclusion

The European Commission work programme for 20261 includes a plan to evaluate the Shareholder Rights Directive (SRD).2 Germany's private banks believe that continued development of SRD II, based on the fundamental principles of the savings and investment union (SIU), will play a significant role in deepening the markets and strengthening shareholders’ rights. The key to success is a targeted revision of Chapter Ia SRD II and the Implementing Regulation (EU) 2018/1212 (Implementing Regulation).3Both must allow for the efficient use of functioning market structures and infrastructures. However, this can only succeed if both companies and their shareholders are meaningfully embedded within these processes. Issuers, in particular, must understand themselves as part of this infrastructure and work with intermediaries to remove existing barriers to the issuer-investor relationship, as recently described by the AMI-SeCo/SEG.4