On 10 June 2019, the amendments introduced by Directive (EU)
2017/828 ("Shareholders Rights Directive")
to Directive 2007/36/EC on the exercise of
certain rights of shareholders in listed companies will become
applicable.
The proposed changes will affect various market players1 including UCITS
management companies and alternative investment fund managers
("AIFMs") managing, respectively, UCITS
and AIFs which invest in shares of companies which have their
registered office in a Member State and whose shares are admitted
to trading on a regulated market situated or operating within a
Member State ("EU Listed Companies").
Those UCITS management companies and AIFMs will be required, in
particular, to develop an engagement policy and they will be
subject to additional transparency requirements.
