Activities of Jiří MAŠTÁLKA related to 2014/0121(COD)
Plenary speeches (3)
Long-term shareholder engagement and corporate governance statement (debate) CS
Long-term shareholder engagement and corporate governance statement (A8-0158/2015 - Sergio Gaetano Cofferati) CS
Long-term shareholder engagement and corporate governance statement (debate) CS
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement and Directive 2013/34/EU as regards certain elements of the corporate governance statement PDF (959 KB) DOC (468 KB)
Amendments (6)
Amendment 94 #
Proposal for a directive
Recital 8
Recital 8
(8) Effective and sustainable shareholder engagement as well as proper involvement of stakeholders, in particular employees, is one of the cornerstones of listed companies’ corporate governance model, which depends on checks and balances between the different organs and different stakeholders.
Amendment 102 #
Proposal for a directive
Recital 13
Recital 13
(13) Asset managers should be required to publicly disclose to institutional investors how their investment strategy and the implementation thereof is in accordance with the asset management arrangement and how the investment strategy and decisions contributes to medium to long- term performance of the assets of the institutional investor. Moreover, they should disclose whether they make investment decisions on the basis of judgements about medium-to long-term performance of the investee company, how their portfolio was composed and the portfolio turnover, actual or potential conflicts of interest and whether the asset manager uses proxy advisors for the purpose of their engagement activities. This information would allow the institutional investor to better monitor the asset manager, provide incentives for a proper alignment of interests and for shareholder engagement.
Amendment 116 #
Proposal for a directive
Recital 16
Recital 16
(16) In order to ensure that shareholders have an effective say on the remuneration policy, they should be granted the right to approve the remuneration policy, on the basis of a clear, understandable and comprehensive overview of the company's remuneration policy, which should be aligned with the business strategy, objectives, values and long-term interests of the company and should incorporate measures to avoid conflicts of interest. Companies should only pay remuneration to their directors in accordance with a remuneration policy that has been approved by shareholders. Employees should be engaged in the process of formulating remuneration policy via their representatives. The approved remuneration policy should be publicly disclosed without delay.
Amendment 121 #
Proposal for a directive
Recital 17
Recital 17
(17) To ensure that the implementation of the remuneration policy is in line with the approved policy, shareholders should be granted the right to vote on the company’s remuneration report. In order to ensure accountability of directors the remuneration report should be clear and understandable and should provide a comprehensive overview of the remuneration granted to individual directors in the last financial year. Employees, via their representatives should be granted the right to express their view on the remuneration report. Where the shareholders vote against the remuneration report, the company should explain in the next remuneration report how the vote of the shareholders has been taken into account.
Amendment 293 #
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007/36/EC
Article 9a – paragraph 1 – subparagraph 1
Article 9a – paragraph 1 – subparagraph 1
1. Member States shall ensure that shareholders have the right to vote on the remuneration policy as regards directors. Companies shall only pay remuneration to their directors in accordance with a remuneration policy that has been approved by shareholders and on which the employees via their representatives have expressed their view. The policy shall be submitted for approval by the shareholders at least every three years.
Amendment 400 #
Proposal for a directive
Article 1 – point 4
Article 1 – point 4
Directive 2007/36/EC
Article 9c – paragraph 1 – subparagraph 1
Article 9c – paragraph 1 – subparagraph 1
1. Member States shall ensure that companies, in case of transactions with related parties that represent more than 1% of their assets, publicly announce such transactions at the time of the conclusion of the transaction, and accompany the announcement by a report from an independent third party assessing whether or not it is on market terms and confirming that the transaction is fair and reasonable from the perspective of the shareholders, including minority shareholders and in the social interests of the enterprise. The announcement shall contain information on the nature of the related party relationship, the name of the related party, the amount of the transaction and any other information necessary to assess the transaction.