Shareholder Rights Directive II: The Belgian Perspective

On April 16, 2020, Belgium adopted the law transposing the Shareholder Rights Directive II1 (“SRD II Law”), almost one year after the ultimate transposition deadline of the directive.

SRD II adds to the framework initially established by the Shareholder Rights Directive I2 and provides in essence for: (i) enhanced involvement of shareholders in companies’ remuneration policy; (ii) rules regarding transactions with related parties; (iii) an institutionalized way through which companies can identify their shareholders; and (iv) transparency obligations applicable to institutional investors, asset managers and proxy advisors.

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