Good news yet again from Charlie McCreevy!
Onésimo Alvarez-Moro
See article:
Investors yesterday welcomed a proposal by the European Commission that will make it easier for shareholders in the European Union to exercise their rights in companies outside their home country.
The draft law, presented in Brussels yesterday, seeks to break down the many barriers faced by cross-border investors, for example by allowing them to vote by post, through a proxy and even by email.
The proposal would also outlaw so-called share-blocking requirements, which prohibit trading before a company's annual meeting and often act as a brake on institutional investors' ability to participate in the assembly.
"You cannot have a single capital market if you cannot vote across borders," said Peter Montagnon, head of investment affairs at the Association of British Insurers. "We think it is very helpful that the Commission is moving to facilitate cross-border voting because it should ensure an increased turnout at annual general meetings."
See full Article (paid registration required).
Also see Commission Press Release.
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