VIDEO | Denmark has just scrapped the requirement for a power-of-attorney document from the beneficial owner when a professional nominee, such as a custodian, votes for shares that are registered in the nominee’s name. In the PostTrade 360° Copenhagen conference on Wednesday, Euronext Securities’ Flemming Merring shared the detail.
The session was sponsored by Euronext
The change comes as good news for many foreign investors and their representatives, who have in many cases even stayed away from voting due to the administrative burden and the high risk of disqualification on formal grounds.
Flemming’s session digs into the details of the simplified process, and lets us understand what requirements must still be fulfilled. The basis for the vote casting is that the custodian is registered as the custodian for the beneficial owner according to the share register.
Flemming Merring is Senior Product Manager, Euronext Securities Copenhagen.
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