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EBS Impact: Prof. Dr. iur. Tim Florstedt participates in the expert commission of the BMJV (Federal Ministry of Justice and Consumer Protection) on the implementation of the Shareholders’ Rights Directive

29 April 2019 | By: Pressestelle EBS Universität
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Prof. Dr. iur. Tim Florstedt participates in the expert commission of the BMJV (Federal Ministry of Justice and Consumer Protection) on the implementation of the Shareholders’ Rights Directive

Federal Cabinet passes the draft bill for the implementation of the Second Shareholders’ Rights Directive (ARUG II).

On March 20, 2019, the Federal Cabinet passed the draft bill presented by Federal Minister Dr. Katharina Barley for the implementation of the Second Shareholders’ Rights Directive (ARUG II). The draft law, which all EU member states must transpose into national legislation by 10 June 2019, has the overall aim to further improve shareholder participation in listed companies and to facilitate cross-border information exchange and the exercising of shareholder rights. To this end, the Directive contains a number of provisions on shareholders’ say on pay and related-party transactions, on better identification and information of shareholders and on improving transparency for institutional investors, asset managers and voting rights consultants.

The implementation of the 2nd ARRL was carried out with the involvement of scientific advisory expertise. On 18 September 2017, the Federal Ministry of Justice and Consumer Protection convened the “Expert Commission of the Federal Ministry of Justice and Consumer Protection on the Implementation of the Shareholders’ Rights Directive”. Prof. Tim Florstedt, holder of the Chair of Civil Law, Commercial and Business Law and Banking Law at EBS Universität, was one of those appointed as a member of the Commission.

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