The new shareholders rights directive, SRD II, was topic for a session with Euroclear Finland’s Anu Puttonen and SEB’s Christine Strandberg in November’s PostTrade 360° Helsinki conference.
What is a corporate action in the scope of SRD II? Different countries give different answers, putting the post trade community to a test.
[This is an update, now with the video, of the article originally published on 18 November, the first day of the PostTrade Helsinki conference.]
Christine Strandberg, product manager at SEB, and Anu Puttonen, chief business officer of Euroclear Finland, spoke in a session led by conference moderator Göran Fors.
The regulation went live earlier this autumn, but it is not yet obvious how much change it will be catalysing. Christine Strandberg pointed out that most institutional investors are required, already since before, to take active part in the governance of their investment target corporations.
“On the retail investor side, many banks didn’t offer shareholders to participate in an a general meeting beyond your home market, and now they have to. Whether it will be economically feasible for an investor holding a hundred shares remains to be seen,” says Christine Strandberg.
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