BETA


2014/0121(COD) Corporate governance: long-term shareholder engagement

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead JURI COFFERATI Sergio Gaetano (icon: S&D S&D) ZWIEFKA Tadeusz (icon: PPE PPE), KARIM Sajjad (icon: ECR ECR), WIKSTRÖM Cecilia (icon: ALDE ALDE), DURAND Pascal (icon: Verts/ALE Verts/ALE), FERRARA Laura (icon: EFDD EFDD), LEBRETON Gilles (icon: ENF ENF)
Former Responsible Committee JURI
Committee Opinion ECON LUDVIGSSON Olle (icon: S&D S&D)
Committee Opinion IMCO
Committee Opinion LIBE
Former Committee Opinion ECON Ashley FOX (icon: ECR ECR), Cora van NIEUWENHUIZEN (icon: ALDE ALDE), Miguel VIEGAS (icon: GUE/NGL GUE/NGL)
Former Committee Opinion IMCO
Former Committee Opinion LIBE
Lead committee dossier:
Legal Basis:
TFEU 114, TFEU 150

Events

2017/05/20
   Final act published in Official Journal
Details

PURPOSE: to strengthen shareholders’ engagement in large European companies.

LEGISLATIVE ACT: Directive (EU) 2017/828 of the European Parliament and of the Council amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement.

CONTENT: the financial crisis revealed that shareholders in many cases supported managers’ excessive short-term risk taking. Moreover, there is clear evidence that the current level of ‘monitoring’ of investee companies and engagement by institutional investors and asset managers is often inadequate and focuses too much on short-term returns.

The Directive amending Directive (EU) 2007/36 is intended to redress this situation. It establishes requirements in relation to the exercise of certain shareholder rights attached to voting shares in relation to general meetings of companies which have their registered office in a Member State and the shares of which are admitted to trading on a regulated market situated or operating within a Member State.

It also establishes specific requirements in order to encourage shareholder engagement , in particular in the long term. Those specific requirements apply in relation to the following areas:

Identification of shareholders : the new directive will ensure that companies are able to identify their shareholders and obtain information regarding shareholder identity from any intermediary in the chain that holds the information. The purpose is to facilitate the exercise of shareholder rights and their engagement with the company.

Member states may provide that companies in their territory are only allowed to request identification with respect to shareholders holding more than a certain percentage of shares or voting rights which will not exceed 0.5%.

The personal data of shareholders shall be processed to enable the company to identify its existing shareholders in order to communicate directly with them, with a view to facilitating the exercise of shareholder rights and shareholder engagement with the company.

Transmission of information : intermediaries shall transmit, without delay, to the company, in accordance with the instructions received from the shareholders, the information received from the shareholders related to the exercise of the rights flowing from their shares.

Facilitating the exercise of shareholder rights : intermediaries shall facilitate the exercise of the rights by the shareholder, including the right to participate and vote in general meetings.

After the general meeting, the shareholder or a third party nominated by the shareholder may obtain, at least upon request, confirmation that their votes have been validly recorded and counted by the company, unless that information is already available to them.

Member States may establish a deadline for requesting such confirmation. Such a deadline shall not be longer than three months from the date of the vote

Confirmation of receipt of votes should be provided in the case of electronic voting.

Intermediaries will be required to disclose any applicable fees for the services provided.

Transparency of institutional investors, asset managers and proxy advisors : institutional investors (such as pension funds and life insurance companies) and asset managers shall disclose an engagement policy describing how they integrate shareholder engagement in their investment. If they fail to meet this requirement, they should explain the reasons why.

The engagement policy shall also include policies for managing actual or potential conflicts of interest.

Member States shall ensure that institutional investors publicly disclose how the main elements of their equity investment strategy are consistent with the profile and duration of their liabilities, in particular long-term liabilities, and how they contribute to the medium to long-term performance of their assets

Member States shall ensure that proxy advisors (who provide research, advice and recommendations on how to vote in general meetings of listed companies) shall publicly disclose reference to a code of conduct which they apply and report on the application of that code of conduct.

Remuneration of directors : shareholders shall have the right to vote on the remuneration policy of the directors of their company. The vote by the shareholders at the general meeting on the remuneration policy shall be binding.

Companies shall pay remuneration to their directors only in accordance with a remuneration policy that has been approved by the general meeting.

Under the new rules, remuneration policy shall contribute to the business strategy, long-term interests and sustainability of the company . It shall be clear and understandable and describe the different components of fixed and variable remuneration, including all bonuses and other benefits in whatever form, which can be awarded to directors and indicate their relative proportion.

Remuneration policy shall be publicly disclosed without delay after the vote by the shareholders at the general meeting.

Related parties transactions : the new Directive provides that material related party transactions shall be submitted to approval by the shareholders or by the administrative or supervisory body in order to provide adequate protection for the interests of the company.

Companies shall publicly announce material transactions with related parties at the latest at the time of the conclusion of the transaction, together with information necessary to assess whether or not the transaction is fair and reasonable.

ENTRY INTO FORCE: 9.6.2017.

TRANSPOSITION: no later than 10.6.2019.

2017/05/17
   CSL - Draft final act
Documents
2017/05/17
   CSL - Final act signed
2017/05/17
   EP - End of procedure in Parliament
2017/05/16
   EC - Commission response to text adopted in plenary
Documents
2017/04/03
   EP/CSL - Act adopted by Council after Parliament's 1st reading
2017/04/03
   CSL - Council Meeting
2017/03/14
   EP - Decision by Parliament, 1st reading
Details

The European Parliament adopted by 646 votes to 39, with 13 abstentions, a legislative resolution 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.

Parliament’s position adopted at first reading following the ordinary legislative procedure amended the Commission proposal.

This proposed Directive establishes requirements in relation to the exercise of certain shareholder rights attached to voting shares in relation to general meetings of companies which have their registered office in a Member State and the shares of which are admitted to trading on a regulated market situated or operating within a Member State.

The amended text reinforced the specific requirements which apply to the following provisions:

Identification of shareholders : listed companies shall have the right to identify their shareholders in order to be able to communicate with them directly and to facilitate the exercise of shareholder rights and shareholder engagement, notably long-term. Member States shall ensure that the company is able to obtain information regarding shareholder identity from any intermediary in the chain that holds the information. They shall also ensure that companies and intermediaries do not store the personal data of shareholders transmitted to them for longer than 12 months after they have become aware that the person concerned has ceased to be a shareholder.

Transmission of information : the intermediaries are required to transmit information, without delay, from the company to the shareholder or to a third party nominated by the shareholder to enable the shareholder to exercise rights flowing from its shares.

Facilitation of the exercise of shareholder rights : Member States shall ensure that when votes are cast electronically an electronic confirmation of receipt of the votes is sent to the person that casts the vote. Member States may establish a deadline for requesting such confirmation. Such a deadline shall not be longer than three months from the date of the vote. When votes are cast electronically, an electronic confirmation of receipt of the votes is sent to the person that casts the vote.

Remuneration of Directors : companies shall establish a remuneration policy as regards directors and that shareholders have the right to vote on the remuneration policy at the general meeting. Member States shall ensure that the vote by the shareholders at the general meeting on the remuneration policy is binding. Companies shall pay remuneration to their directors only in accordance with a remuneration policy that has been approved by the general meeting.

Transparency of institutional investors, asset managers and proxy advisors : institutional investors and asset managers shall:

publicly disclose a clear and reasoned explanation how they have incorporated investor engagement into their investment strategies or explain why they have chosen not to incorporate it; develop and publicly disclose an engagement policy that describes how they integrate shareholder engagement in their investment strategy.

Institutional investors shall publicly disclose how the main elements of their equity investment strategy are consistent with the profile and duration of their liabilities, in particular long-term liabilities, and how they contribute to the medium to long-term performance of their assets.

Asset managers shall:

disclose information to the institutional investors on how they make investment decisions based on evaluation of medium to long-term performance of the investee company; supply information to institutional investors on potential conflicts of interests which have arisen in connection with engagements activities.

Member States shall ensure that proxy advisors publicly disclose reference to a code of conduct which they apply and report on the application of that code of conduct. They shall also ensure that, in order to adequately inform their clients about the accuracy and reliability of their activities, proxy advisors publicly disclose, on an annual basis at least, information in relation to the procedures put in place to ensure quality of the research, advice and voting recommendations and qualifications of the staff involved.

Documents
2017/03/13
   EP - Debate in Parliament
2017/03/07
   EP - Amendments tabled in committee
Documents
2017/01/31
   EP - Approval in committee of the text agreed at 1st reading interinstitutional negotiations
2015/07/08
   EP - Results of vote in Parliament
2015/07/08
   EP - Decision by Parliament, 1st reading
Details

The European Parliament adopted by 556 votes to 67, with 80 abstentions, amendments to 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.

The matter had been sent back for consideration to the competent committee . The vote had been set back for a later session.

The main amendments adopted in plenary were as follows:

Purpose : Members felt that the amended directive should:

establish specific requirements in order to facilitate shareholders' engagement in the long term, including the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights; create transparency on the engagement policies of institutional investors and asset managers and on the activities of proxy advisors and lay down certain requirements with regard to directors' remuneration and related party transactions.

Transparency and dialogue : Member States shall ensure that companies have the right to identify their shareholders , taking account of existing national systems. On the request of the company, the intermediary must communicate without undue delay to the company the information regarding shareholder identity. Companies shall in any case be allowed to give third parties an overview of the shareholding structure of the company by disclosing the different shareholder categories.

The companies and the intermediaries must not store the information regarding shareholder identity transmitted to for longer than necessary.

Intermediaries must facilitate the exercise of shareholder rights by the latter, including the right to participate and vote in general meetings . Companies must publicly disclose, via their website, the minutes of the general meetings and the results of votes.

Furthermore, Member States may allow intermediaries to charge the costs of the service to be provided by the companies. Intermediaries shall publicly disclose prices , fees and any other charges separately for each service

Any differences in the charges levied between domestic and cross-border exercise of rights shall only be permitted where duly justified and shall reflect the variation in actual costs incurred for delivering the services.

Engagement policy: institutional investors and asset managers must develop a policy on shareholder engagement which shall determine how they conduct the following actions: (i) integrate shareholder engagement in their investment strategy; (ii) monitor investee companies, including on their non-financial performance, and reduction of social and environmental risks; (iii) conduct dialogue and cooperate with other stakeholders of the investee companies; (iv) exercise voting rights.

Transparency of asset managers : institutional investors must disclose to the public how their investment strategy is aligned with the profile and duration of their liabilities and how it contributes to the medium to long-term performance of their assets. Moreover, asset managers should publicly disclose the portfolio turnover , whether they make investment decisions on the basis of judgements about medium to long-term performance of the investee company, and whether they use proxy advisors for the purpose of their engagement activities. Further information should be disclosed by the asset managers directly to the institutional investors, including information on the portfolio composition, on the portfolio turnover costs, on conflicts of interest that have arisen and how they have been dealt with.

Right to vote on the remuneration policy: companies must establish a remuneration policy as regards directors and submit it to a binding vote of the general meeting of shareholders . Any change to the policy shall be voted on at the general meeting of shareholders and the policy shall be submitted in any case for approval by the general meeting at least every three years.

However, Member States may provide that the votes by the general meeting on the remuneration policy are advisory .

Directors’ remuneration policy must:

be clear, understandable, in line with the business strategy, objectives, values and long-term interests of the company and shall incorporate measures to avoid conflicts of interest. explain how it contributes to the long-term interests and sustainability of the company; set clear criteria for the award of fixed and variable remuneration, including all bonuses and all benefits in whatever form; indicate the appropriate relative proportion of the different components of fixed and variable remuneration. For variable remuneration, the policy shall indicate the financial and non-financial performance criteria, including, where appropriate, consideration for programmes and results relating to corporate social responsibility;

Member States shall ensure that (i) the value of shares does not play a dominant role in the financial performance criteria; (ii) share-based remuneration does not represent the most significant part of directors' variable remuneration.

The remuneration policy shall also:

indicate the main terms of the contracts of directors, including its duration and the applicable notice periods and terms of termination and payments linked to termination of contracts and the characteristics of supplementary pension or early retirement schemes; specify the company's procedures for the determination of the remuneration of directors, including the role and functioning of the remuneration committee; explain the specific decision-making process leading to its determination.

Related party transactions : in order to ensure adequate safeguards for the protection of companies’ interests Member States should ensure that material related party transactions should be approved by the shareholders or by the administrative or supervisory body of the companies , in accordance with procedures which prevent a related party from taking advantage of its position and provide adequate protection for the interest of the company and of shareholders which are not related parties, including minority shareholders . Related parties companies should publicly announce such transactions at the latest at the time of conclusion.

Additional disclosure for large undertakings : Members added large undertakings must provide a report by country on their businesses. This includes turnover; number of employees on a full time equivalent basis; value of assets and annual cost of maintaining those assets; sales and purchases; profit or loss before tax; tax on profit or loss; public subsidies received;

Large undertakings shall, In the notes to the financial statements, publicly disclose essential elements of and information regarding tax rulings, providing a breakdown by Member State and by third country in which the large undertaking in question has a subsidiary.

Undertakings of which the average number of employees on a consolidated basis during the financial year does not exceed 500 and which, on their balance sheet dates, have on a consolidated basis either a balance sheet which does not exceed a total of 86 million euros or a net turnover which does not exceeds EUR 100 million shall be exempt from this obligation.

Documents
2015/07/08
   EP - Matter referred back to the committee responsible
2015/07/07
   EP - Debate in Parliament
2015/05/12
   EP - Committee report tabled for plenary, 1st reading
Details

The Committee on Legal Affairs adopted the report by Sergio Gaetano COFFERATI (S&D, IT) 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.

The Committee on Economic and Monetary Affairs, exercising its prerogatives as an associated committee under Parliament’s Rule 54 of the Rules of Procedure was consulted to give an opinion on the report.

Purpose : Members stipulated that the amended Directive shall: (i) establish specific requirements in order to facilitate shareholders' engagement in the long term, including the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights; (ii) create transparency on the engagement policies of institutional investors and asset managers and on the activities of proxy advisors and; (iii) lay down certain requirements with regard to directors' remuneration and related party transaction.

Support for long-term shareholding : in order to provide more stability for companies, Member States shall put in place a mechanism in order to promote shareholding on a long-term basis and foster long-term shareholders. The qualifying period in order to be considered a long term shareholder shall not be less than two years .

The mechanism shall include one or more of the following advantages for long term shareholders: additional voting rights; tax incentives; loyalty dividends; loyalty shares.

Transparency of asset managers : asset managers should be required to publicly disclose annually 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, information on the portfolio composition, on the portfolio turnover costs, on conflicts of interest which have arisen and how they have been dealt with should be disclosed.

Transparency of proxy advisors : proxy advisors should adopt and follow a code of conduct . Departures from the code should be declared and explained, together with any alternative solutions which have been adopted. Proxy advisors should report on the application of their code of conduct on a yearly basis.

Approval of the remuneration policy by stakeholders : the remuneration policy for company directors should also contribute to the long-term growth of the company so that it corresponds to a more effective practice of corporate governance and is not linked entirely or largely to short-term investment objectives. Companies should establish a remuneration policy as regards directors and submit it to a binding vote of the general meeting of shareholders. Any change to the policy shall be voted on at the general meeting of shareholders and the policy shall be submitted in any case for approval by the general meeting at least every three years.

Directors’ performance should be assessed using both financial and non-financial performance criteria , including environmental, social and governance factors.

The remuneration policy shall set clear criteria for the award of fixed and variable remuneration , including all bonuses and all benefits in whatever form.

For variable remuneration, the criteria also include consideration of programmes relating to corporate social responsibility and the results achieved in this regard should be taken into consideration. Member States shall ensure that share-based remuneration does not represent the most significant part of directors' variable remuneration.

In addition, the remuneration policy shall:

indicate the main terms of the contracts of directors, including its duration and the applicable notice periods and terms of termination and payments linked to termination of contracts and the characteristics of supplementary pension or early retirement schemes; specify the company's procedures for the determination of the remuneration of directors, including the role and functioning of the remuneration committee; explain the specific decision-making process leading to its determination.

Member States shall ensure that relevant stakeholders, in particular employees , are entitled, via their representatives, to express a view on the remuneration report before it is submitted to the shareholders.

Additional disclosure for large undertakings : in the notes to the financial statements, large undertakings shall, in addition to the information required under the Directive, publicly disclose non-essential information in respect of the following matters, specifying by Member State and by third country in which it has a subsidiary .

Undertakings whose average number of employees on a consolidated basis during the financial year does not exceed 500 and, on their balance sheet dates, do not exceed on a consolidated basis either a balance sheet total of €86 million or a net turnover of €100 million shall be exempt from the obligation .

Additional disclosure for issuers : Member States shall require each issuer to publicly disclose annually, specifying by Member State and by third country in which it has a subsidiary, the following information on a consolidated basis for the financial year: (i) name(s), (ii) nature of activities and geographical location; (iii) turnover; (iv) number of employees on a full time equivalent basis; (v) tax on profit or loss; (vii) public subsidies received.

Documents
2015/05/07
   EP - Vote in committee, 1st reading
2015/03/12
   EP - Referral to associated committees announced in Parliament
2015/03/02
   EP - Committee opinion
Documents
2015/02/25
   EP - Amendments tabled in committee
Documents
2015/02/05
   EP - Amendments tabled in committee
Documents
2014/12/19
   EP - Committee draft report
Documents
2014/10/28
   EDPS - Document attached to the procedure
Details

Opinion of the European Data Protection Supervisor on the Commission 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.

The EDPS welcomed the prior consultation on this proposal and the fact that the Commission took into account several of its comments which resulted in the strengthening of the data protection safeguards in the proposed Directive.

In March 2013, following the adoption of the Commission’s Action Plan: “European company law and corporate governance — a modern legal framework for more engaged shareholders and sustainable companies”, the EPDS provided preliminary guidance with regard to data protection and privacy concerns regarding ‘shareholder identification’ and ‘shareholder oversight of remuneration policy.

The EDPS is of the opinion that the proposed Directive should:

contain a general, substantive provision to refer to applicable data protection legislation; specify the purposes of processing and should clearly provide that neither the information regarding the identity of the shareholders, nor the data on the remuneration of individual directors, shall be used for any incompatible purposes; require companies to ensure that technical and organisational measures are put in place to limit accessibility of the information regarding individuals (such as shareholders or individual directors) after a certain period of time; require that in case the disclosure of the details of an individual director’s remuneration package reveal health data or other special categories of data protected under Article 8 of Directive 95/46/EC, then the information should be redacted so as to exclude any reference to such ‘more sensitive’ information .

2014/10/20
   EP - Committee referral announced in Parliament, 1st reading
2014/10/01
   RO_CHAMBER - Contribution
Documents
2014/09/24
   EP - COFFERATI Sergio Gaetano (S&D) appointed as rapporteur in JURI
2014/07/22
   EP - LUDVIGSSON Olle (S&D) appointed as rapporteur in ECON
2014/07/14
   DE_BUNDESRAT - Contribution
Documents
2014/07/09
   ESC - Economic and Social Committee: opinion, report
Documents
2014/06/18
   ES_PARLIAMENT - Contribution
Documents
2014/06/03
   PT_PARLIAMENT - Contribution
Documents
2014/04/16
   EP - Committee referral announced in Parliament, 1st reading
2014/04/09
   EC - Document attached to the procedure
2014/04/09
   EC - Document attached to the procedure
2014/04/09
   EC - Document attached to the procedure
2014/04/09
   EC - Legislative proposal published
Details

PURPOSE: to revise Directive 2007/36/EC on the exercise of certain rights of shareholders in listed companies in order to contribute to their long-term sustainability.

PROPOSED ACT: Directive of the European Parliament and the Council.

ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.

BACKGROUND: Directive 2007/36/EC of the European Parliament and of the Council establishes requirements in relation to the exercise of certain shareholder rights attaching to voting shares in relation to general meetings of companies which have their registered office in a Member State and whose shares are admitted to trading on a regulated market situated or operating within a Member State.

The financial crisis has revealed that shareholders in many cases supported managers' excessive short-term risk taking . Moreover, there is clear evidence that institutional investors and their asset managers do not sufficiently focus on the real (long-term) performance of companies, but often on share-price movements and the structure of capital market indexes, which leads to suboptimal return for the end beneficiaries of institutional investors and puts short-term pressure on companies.

The past years have highlighted certain corporate governance shortcomings in European listed companies. These shortcomings relate to different actors: companies’ and their boards, shareholders (institutional investors and asset managers) and proxy advisors.

Five main issues have been identified :

insufficient engagement of institutional investors and asset managers; insufficient link between pay and performance of directors; lack of shareholder oversight on related party transactions; inadequate transparency of proxy advisors; difficult and costly exercise of rights flowing from securities for investors.

Stakeholders were consulted on two Green Papers (" Corporate governance in financial institution " and " The EU corporate governance framework ").

Based on these consultations and further analysis, the Commission's Action Plan : European company law and corporate governance - a modern legal framework for more engaged shareholders and sustainable companies provides the Commission’s roadmap in the area, based the two objectives of enhancing transparency and engaging shareholders.

IMPACT ASSESSMENT: a range of options, including no policy change, have been considered to address each of the presented problems. The preferred option is the following:

1) mandatory transparency of institutional investors and asset managers on their voting and engagement and certain aspects of asset management arrangements;

2) disclosure of the remuneration policy and individual remunerations, combined with a shareholder vote;

3) additional transparency and an independent opinion on more important related party transactions and submission of the most substantial transactions to shareholder approval;

4) binding disclosure requirements on the methodology and conflicts of interests of proxy advisors;

5) creating a framework to allow listed companies to identify their shareholders and requiring intermediaries to rapidly transmit information related to shareholders and to facilitate the exercise of shareholder rights.

CONTENT: the main objectives of the proposal are as follows:

Improving engagement of institutional investors and asset managers : the proposal should increase the transparency of institutional investors and asset managers. They will be required to develop a policy on shareholder engagement , which should contribute to managing actual or potential conflicts of interests with regard to shareholder engagement. They should in principle disclose to the public their engagement policy, how it has been implemented and the results thereof. Where institutional investors or asset managers decide not to develop an engagement policy and/or decide not to disclose the implementation and results thereof, they shall give a clear and reasoned explanation as to why this is the case.

Strengthening the link between pay and performance of directors : the proposal aims at creating more transparency on remuneration policy and the actual remuneration awarded to directors and creating a better link between pay and performance of directors by improving shareholder oversight of directors’ remuneration.

Shareholders should have the right to approve the remuneration policy and to vote on the remuneration report. All benefits of directors in whatever form will be included in the remuneration policy and report. The proposal does not regulate the level of remuneration and leaves decisions on this to companies and their shareholders.

Improving shareholder oversight on related party transactions : the proposal requires listed companies that related party transactions representing more than 5% of the companies’ assets or transactions which can have a significant impact on profits or turnover to submit these transactions to the approval of shareholders and may not unconditionally conclude it without their approval.

For smaller related party transactions that represent more than 1% of their assets , listed companies shall 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.

In order to target only transactions that could be most disadvantageous for minority shareholders and to keep administrative burden limited Member States should be allowed to exclude transactions entered into between the company and members of its group that are fully owned by the listed company.

Enhancing transparency of proxy advisors : the proposal will require proxy advisors to adopt and implement adequate measures to guarantee that their voting recommendations are accurate and reliable , based on a thorough analysis of all the information that is available to them and are not affected by any existing or potential conflict of interest or business relationship. Proxy advisors are required to publicly disclose certain key information related to the preparation of their voting recommendations.

Facilitating the exercise of rights flowing from securities for investors : it is estimated that non-national shareholders hold some 44% of the shares in EU listed companies. The proposal requires Member States to ensure that intermediaries offer to listed companies the possibility to have their shareholders identified . Intermediaries should, on the request of such a company communicate without undue delay the name and contact details of the shareholders.

The proposal also requires that intermediaries facilitate the exercise of the rights by the shareholder , including the right to participate and vote in general meetings and requires companies to confirm the votes cast in general meetings by or on behalf of shareholders.

Documents

Activities

Votes

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC #

2015/07/08 Outcome: -: 536, +: 165, 0: 7
EL ?? CY FR IE LU EE LV AT SI MT LT DK FI HR SE SK NL ES PT BE CZ BG HU IT RO DE PL GB
Total
18
3
5
72
10
5
6
7
17
8
6
10
12
12
11
19
13
22
51
21
19
21
17
19
66
28
90
49
70
icon: GUE/NGL GUE/NGL
52

GUE/NGL

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Sweden GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Luxembourg Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Austria Verts/ALE

3

Slovenia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2
icon: ENF ENF
32

Austria ENF

Against (1)

4

Belgium ENF

Abstain (1)

1

Poland ENF

2
icon: NI NI
14

France NI

2

Spain NI

1

Hungary NI

2

Germany NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: ALDE ALDE
68

Ireland ALDE

Against (1)

1

Luxembourg ALDE

Against (1)

1

Estonia ALDE

3

Latvia ALDE

1

Austria ALDE

For (1)

1

Slovenia ALDE

Against (1)

1
4

Denmark ALDE

2

Croatia ALDE

2

Portugal ALDE

2

Romania ALDE

3

United Kingdom ALDE

Against (1)

1
icon: ECR ECR
70

Greece ECR

For (1)

1

Latvia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Finland ECR

2

Croatia ECR

Abstain (1)

1

Slovakia ECR

3

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2

Italy ECR

2
icon: S&D S&D
177

Greece S&D

3

S&D

2

Cyprus S&D

2

Ireland S&D

Against (1)

1

Luxembourg S&D

Against (1)

1

Estonia S&D

Against (1)

1

Latvia S&D

Against (1)

1

Slovenia S&D

Against (1)

1

Malta S&D

3

Lithuania S&D

2
3

Finland S&D

2

Croatia S&D

2

Netherlands S&D

3

Czechia S&D

4
icon: PPE PPE
203

Cyprus PPE

Against (1)

1

Luxembourg PPE

2

Estonia PPE

Against (1)

1

Lithuania PPE

2

Denmark PPE

Against (1)

1

Finland PPE

2

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1PC/1 art 3 sexies bis #

2015/07/08 Outcome: -: 376, 0: 189, +: 142
FR ?? CY EL IT IE LU AT EE MT SE LV ES DK LT SI FI PT HR NL SK BE CZ HU BG RO DE GB PL
Total
73
3
5
18
66
9
5
17
6
6
19
7
50
12
10
8
12
21
10
22
13
19
21
19
17
28
91
70
49
icon: GUE/NGL GUE/NGL
52

GUE/NGL

1

Cyprus GUE/NGL

2

Sweden GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Portugal GUE/NGL

For (1)

4

Netherlands GUE/NGL

3

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Luxembourg Verts/ALE

For (1)

1

Austria Verts/ALE

3

Estonia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Denmark Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: S&D S&D
177

S&D

2

Cyprus S&D

2

Greece S&D

3

Luxembourg S&D

Abstain (1)

1

Estonia S&D

Abstain (1)

1

Malta S&D

3

Latvia S&D

Abstain (1)

1
3

Lithuania S&D

2

Slovenia S&D

Abstain (1)

1

Finland S&D

2

Croatia S&D

2

Netherlands S&D

3

Czechia S&D

4
icon: NI NI
13

France NI

2

Hungary NI

2

Germany NI

For (1)

Against (1)

2

United Kingdom NI

Against (1)

1

Poland NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: ALDE ALDE
67

Ireland ALDE

Against (1)

1

Luxembourg ALDE

Against (1)

1

Austria ALDE

Against (1)

1

Estonia ALDE

3

Latvia ALDE

1

Denmark ALDE

2
4

Slovenia ALDE

Against (1)

1

Portugal ALDE

Against (1)

2

Croatia ALDE

2

Romania ALDE

3

United Kingdom ALDE

Against (1)

1
icon: ECR ECR
70

Greece ECR

For (1)

1

Italy ECR

2

Latvia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2
icon: PPE PPE
204

Cyprus PPE

Against (1)

1

Luxembourg PPE

2

Estonia PPE

Against (1)

1

Denmark PPE

Against (1)

1

Lithuania PPE

2

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1PC/2 art 3 sexies bis #

2015/07/08 Outcome: -: 420, 0: 192, +: 96
CY ?? FR LU AT EE MT LV LT SI IT SE DK HR EL FI IE SK NL HU PT BE BG CZ RO ES GB DE PL
Total
5
3
73
5
17
6
6
7
10
8
67
19
12
11
18
13
10
13
22
19
21
19
17
20
28
51
68
91
48
icon: Verts/ALE Verts/ALE
46

Luxembourg Verts/ALE

For (1)

1

Austria Verts/ALE

3

Estonia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Netherlands Verts/ALE

2

Hungary Verts/ALE

2

Belgium Verts/ALE

For (1)

1

United Kingdom Verts/ALE

5
icon: ENF ENF
33

Belgium ENF

Against (1)

1

Poland ENF

2
icon: S&D S&D
180

Cyprus S&D

2

S&D

2

Luxembourg S&D

Abstain (1)

1

Estonia S&D

Abstain (1)

1

Malta S&D

3

Latvia S&D

Abstain (1)

1

Lithuania S&D

2

Slovenia S&D

Abstain (1)

1
3

Croatia S&D

2

Greece S&D

3

Finland S&D

2

Ireland S&D

Abstain (1)

1

Netherlands S&D

3

Czechia S&D

4
icon: NI NI
14

France NI

2

Hungary NI

2

Spain NI

1

United Kingdom NI

Against (1)

1

Germany NI

2

Poland NI

Against (1)

1
icon: EFDD EFDD
42

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: GUE/NGL GUE/NGL
52

Cyprus GUE/NGL

Against (1)

2

GUE/NGL

Against (1)

1

Italy GUE/NGL

3

Sweden GUE/NGL

Against (1)

1

Denmark GUE/NGL

Against (1)

1

Finland GUE/NGL

Against (1)

1
4

Netherlands GUE/NGL

Against (1)

3

United Kingdom GUE/NGL

Against (1)

1
icon: ALDE ALDE
67

Luxembourg ALDE

Against (1)

1

Austria ALDE

Against (1)

1

Estonia ALDE

3

Latvia ALDE

1
4

Slovenia ALDE

Against (1)

1

Denmark ALDE

2

Croatia ALDE

2

Ireland ALDE

Against (1)

1

Portugal ALDE

Against (1)

2

Czechia ALDE

3

Romania ALDE

3

United Kingdom ALDE

Against (1)

1
icon: ECR ECR
70

Latvia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Italy ECR

2

Croatia ECR

Against (1)

1

Greece ECR

Against (1)

1

Finland ECR

2

Netherlands ECR

2

Bulgaria ECR

2

Czechia ECR

2
icon: PPE PPE
203

Cyprus PPE

Against (1)

1

Luxembourg PPE

2

Estonia PPE

Against (1)

1

Lithuania PPE

2

Denmark PPE

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1PC/1 art 3 septies #

2015/07/08 Outcome: -: 553, +: 148, 0: 6
?? CY IE LU EL EE LV FR SI MT AT DK FI LT SE HR NL PT SK CZ BE BG HU IT ES RO DE PL GB
Total
3
5
10
5
18
6
7
72
8
6
17
12
12
10
19
11
22
21
13
20
19
17
19
67
50
28
91
49
69
icon: GUE/NGL GUE/NGL
50

GUE/NGL

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Sweden GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Luxembourg Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Slovenia Verts/ALE

For (1)

1

Austria Verts/ALE

3

Denmark Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: NI NI
14

France NI

2

Hungary NI

2

Spain NI

1

Germany NI

For (1)

Against (1)

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: ECR ECR
70

Greece ECR

For (1)

1

Latvia ECR

Against (1)

1

Finland ECR

2

Lithuania ECR

Against (1)

1

Croatia ECR

Against (1)

1

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2

Italy ECR

2
icon: ALDE ALDE
68

Ireland ALDE

Against (1)

1

Luxembourg ALDE

Against (1)

1

Estonia ALDE

3

Latvia ALDE

1

Slovenia ALDE

Against (1)

1

Austria ALDE

Against (1)

1

Denmark ALDE

2

Croatia ALDE

2

Portugal ALDE

2

Romania ALDE

3

United Kingdom ALDE

Against (1)

1
icon: S&D S&D
178

S&D

2

Cyprus S&D

2

Ireland S&D

Against (1)

1

Luxembourg S&D

Against (1)

1

Greece S&D

3

Estonia S&D

Against (1)

1

Latvia S&D

Against (1)

1

Slovenia S&D

Against (1)

1

Malta S&D

3
3

Finland S&D

2

Lithuania S&D

2

Croatia S&D

2

Netherlands S&D

3

Czechia S&D

4

Bulgaria S&D

For (1)

4
icon: PPE PPE
202

Cyprus PPE

Against (1)

1

Luxembourg PPE

2

Estonia PPE

Against (1)

1

Denmark PPE

Against (1)

1

Finland PPE

2

Lithuania PPE

2

A8-0158/2015 - Sergio Gaetano Cofferati - Am 25/1 #

2015/07/08 Outcome: +: 567, -: 73, 0: 68
DE IT FR PL ES GB NL RO PT AT BE HU BG DK SE EL LT CZ FI SI SK LV IE HR EE MT LU CY ??
Total
92
67
73
49
51
69
22
28
21
17
19
19
17
11
18
18
10
21
12
8
12
7
10
11
6
6
5
5
3
icon: PPE PPE
202

Denmark PPE

For (1)

1
2

Finland PPE

2

Ireland PPE

Against (1)

4

Estonia PPE

For (1)

1

Luxembourg PPE

For (1)

Against (1)

2

Cyprus PPE

1
icon: S&D S&D
180

Netherlands S&D

For (1)

Against (2)

3

Bulgaria S&D

4

Lithuania S&D

2

Czechia S&D

Against (1)

4

Finland S&D

Against (1)

2

Slovenia S&D

For (1)

1

Slovakia S&D

Against (1)

4

Latvia S&D

1

Ireland S&D

For (1)

1

Croatia S&D

2

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Cyprus S&D

2
2
icon: ECR ECR
67

Italy ECR

2

Netherlands ECR

2

Bulgaria ECR

Against (1)

2

Greece ECR

Abstain (1)

1

Lithuania ECR

1

Czechia ECR

Against (1)

2
2

Slovakia ECR

2

Latvia ECR

For (1)

1

Croatia ECR

For (1)

1
icon: ALDE ALDE
68

United Kingdom ALDE

1

Romania ALDE

Against (1)

3

Austria ALDE

For (1)

1

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

Ireland ALDE

For (1)

1

Croatia ALDE

For (1)

Against (1)

2

Estonia ALDE

3

Luxembourg ALDE

For (1)

1
icon: Verts/ALE Verts/ALE
48

Netherlands Verts/ALE

2

Austria Verts/ALE

3

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Denmark Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Croatia Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1
icon: GUE/NGL GUE/NGL
52

Italy GUE/NGL

3

United Kingdom GUE/NGL

1

Netherlands GUE/NGL

3

Denmark GUE/NGL

For (1)

1

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Ireland GUE/NGL

Abstain (1)

4

Cyprus GUE/NGL

2

GUE/NGL

Abstain (1)

1
icon: ENF ENF
33

Poland ENF

2

Belgium ENF

Abstain (1)

1
icon: NI NI
14

Germany NI

Abstain (1)

2

France NI

2

Poland NI

Against (1)

1

Spain NI

1

United Kingdom NI

For (1)

1

Hungary NI

2
icon: EFDD EFDD
43

France EFDD

1

Poland EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 25/2 #

2015/07/08 Outcome: +: 548, -: 141, 0: 2
DE IT ES FR PT NL RO AT EL HU CZ BG HR BE IE SI SK SE EE MT LT LU LV FI DK CY PL ?? GB
Total
90
65
49
72
21
22
28
17
17
19
18
17
11
18
10
8
10
19
6
6
9
5
7
11
11
5
46
3
70
icon: PPE PPE
201

Ireland PPE

Against (1)

4

Estonia PPE

For (1)

1
2

Luxembourg PPE

2

Finland PPE

2

Denmark PPE

For (1)

1

Cyprus PPE

1
icon: S&D S&D
174

Netherlands S&D

3

Greece S&D

2

Bulgaria S&D

4

Croatia S&D

2

Ireland S&D

For (1)

1

Slovenia S&D

For (1)

1
3

Estonia S&D

For (1)

1

Malta S&D

3

Lithuania S&D

2

Luxembourg S&D

For (1)

1

Latvia S&D

1

Finland S&D

Against (1)

2

Cyprus S&D

2
2
icon: ALDE ALDE
65

Romania ALDE

3

Austria ALDE

For (1)

1

Croatia ALDE

2

Ireland ALDE

For (1)

1

Slovenia ALDE

For (1)

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Latvia ALDE

1

Denmark ALDE

2

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
51

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Netherlands Verts/ALE

2

Austria Verts/ALE

3

Hungary Verts/ALE

2

Croatia Verts/ALE

For (1)

1

Belgium Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Finland Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1
icon: NI NI
14

Germany NI

Against (1)

Abstain (1)

2

Spain NI

1

France NI

2

Hungary NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: ENF ENF
32

Belgium ENF

Against (1)

1

Poland ENF

Against (1)

1
icon: ECR ECR
63

Italy ECR

2

Netherlands ECR

For (1)

Against (1)

2

Greece ECR

For (1)

1

Czechia ECR

Against (1)

1

Bulgaria ECR

2

Croatia ECR

Against (1)

1

Slovakia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Latvia ECR

Against (1)

1

Finland ECR

2

A8-0158/2015 - Sergio Gaetano Cofferati - Am 25/3 #

2015/07/08 Outcome: +: 560, -: 136, 0: 7
DE IT ES RO FR PT NL EL HU AT BG CZ BE FI HR LT IE SI SE SK EE MT LU LV DK CY ?? PL GB
Total
90
65
51
28
71
21
22
18
19
17
17
19
19
13
11
10
10
8
19
13
6
6
5
7
11
5
3
49
69
icon: PPE PPE
201
2

Ireland PPE

Against (1)

4

Estonia PPE

For (1)

1

Luxembourg PPE

2

Denmark PPE

For (1)

1

Cyprus PPE

1
icon: S&D S&D
177

Netherlands S&D

3

Bulgaria S&D

Against (1)

4

Czechia S&D

3

Croatia S&D

2

Ireland S&D

For (1)

1

Slovenia S&D

For (1)

1

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Latvia S&D

1

Cyprus S&D

2
2
icon: ALDE ALDE
68

Romania ALDE

3

Austria ALDE

For (1)

1

Croatia ALDE

2

Ireland ALDE

For (1)

1

Slovenia ALDE

For (1)

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Latvia ALDE

1

Denmark ALDE

2

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Netherlands GUE/NGL

3

Finland GUE/NGL

For (1)

1

Sweden GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Netherlands Verts/ALE

2

Hungary Verts/ALE

2

Austria Verts/ALE

3

Belgium Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Denmark Verts/ALE

For (1)

1
icon: NI NI
14

Germany NI

Abstain (1)

2

Spain NI

1

France NI

2

Hungary NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
42

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: ENF ENF
32

Belgium ENF

Against (1)

1

Poland ENF

2
icon: ECR ECR
68

Italy ECR

2

Netherlands ECR

2

Greece ECR

For (1)

1

Bulgaria ECR

2

Czechia ECR

Against (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1PC/1 art 3 nonies #

2015/07/08 Outcome: +: 661, -: 41, 0: 2
DE FR IT ES PL RO GB NL PT CZ HU BG BE AT SE SK FI HR DK LT IE EL SI LV EE MT LU CY ??
Total
92
73
66
50
48
28
69
22
20
21
19
17
19
17
19
13
12
11
11
10
10
17
8
6
6
6
5
5
3
icon: PPE PPE
201

Denmark PPE

For (1)

1
2

Estonia PPE

For (1)

1

Luxembourg PPE

2

Cyprus PPE

1
icon: S&D S&D
177

Netherlands S&D

3

Croatia S&D

2

Ireland S&D

For (1)

1

Greece S&D

2

Slovenia S&D

For (1)

1

Latvia S&D

1

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Cyprus S&D

2
2
icon: ALDE ALDE
68

Romania ALDE

3

United Kingdom ALDE

1

Austria ALDE

For (1)

1

Croatia ALDE

2

Denmark ALDE

2

Ireland ALDE

For (1)

1

Slovenia ALDE

For (1)

1

Latvia ALDE

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1
icon: ECR ECR
68

Italy ECR

2

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2
2

Croatia ECR

For (1)

1

Lithuania ECR

1

Greece ECR

For (1)

1
icon: GUE/NGL GUE/NGL
52

United Kingdom GUE/NGL

1

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Netherlands Verts/ALE

2

Hungary Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Austria Verts/ALE

3

Croatia Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1
icon: ENF ENF
33

Poland ENF

2

Belgium ENF

Against (1)

1
icon: NI NI
14

Germany NI

2

France NI

2

Spain NI

1

Poland NI

Against (1)

1

United Kingdom NI

For (1)

1

Hungary NI

2
icon: EFDD EFDD
43

France EFDD

1

Poland EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1PC/2 art 3 nonies #

2015/07/08 Outcome: +: 571, -: 124
DE IT ES RO FR PT HU AT CZ SE BG NL EL BE IE FI HR SI LT SK LV EE MT LU CY DK PL ?? GB
Total
90
64
49
27
72
21
18
17
20
19
17
22
18
18
10
12
10
8
9
13
6
6
6
5
5
12
48
3
69
icon: PPE PPE
198
2

Estonia PPE

For (1)

1

Luxembourg PPE

2

Cyprus PPE

1

Denmark PPE

For (1)

1
icon: S&D S&D
176

Netherlands S&D

3

Ireland S&D

For (1)

1

Croatia S&D

2

Slovenia S&D

For (1)

1

Latvia S&D

1

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Cyprus S&D

2
2
icon: ALDE ALDE
66

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Croatia ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Denmark ALDE

2

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
51

Sweden GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Hungary Verts/ALE

2

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1
icon: NI NI
14

Germany NI

2

Spain NI

1

France NI

2

Hungary NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
42

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: ECR ECR
67

Italy ECR

2

Czechia ECR

Against (1)

1

Bulgaria ECR

2

Netherlands ECR

2

Greece ECR

For (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 27rev/1 #

2015/07/08 Outcome: +: 620, -: 48, 0: 44
DE FR IT PL ES RO GB BE HU BG PT AT CZ SK SE FI HR LT NL DK SI LV EE MT LU EL IE CY ??
Total
92
73
67
49
51
28
69
19
19
17
21
17
21
13
19
13
11
10
22
12
8
7
6
6
5
18
10
5
3
icon: PPE PPE
204
2

Denmark PPE

For (1)

1

Estonia PPE

For (1)

1

Luxembourg PPE

2

Cyprus PPE

1
icon: S&D S&D
180

Croatia S&D

2

Netherlands S&D

3

Slovenia S&D

For (1)

1

Latvia S&D

1

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Ireland S&D

For (1)

1

Cyprus S&D

2
2
icon: ALDE ALDE
68

Romania ALDE

3

United Kingdom ALDE

1

Austria ALDE

For (1)

1

Croatia ALDE

2

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Ireland ALDE

For (1)

1
icon: ECR ECR
69

Italy ECR

2

Bulgaria ECR

2

Czechia ECR

2
2

Croatia ECR

For (1)

1

Lithuania ECR

1

Netherlands ECR

2

Latvia ECR

For (1)

1

Greece ECR

Abstain (1)

1
icon: Verts/ALE Verts/ALE
48

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Austria Verts/ALE

3

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Netherlands Verts/ALE

2

Denmark Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1
icon: ENF ENF
33

Poland ENF

2

Belgium ENF

For (1)

1
icon: NI NI
14

Germany NI

For (1)

Against (1)

2

France NI

2

Poland NI

Against (1)

1

Spain NI

1

United Kingdom NI

For (1)

1

Hungary NI

2
icon: EFDD EFDD
43

France EFDD

1

Poland EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2
icon: GUE/NGL GUE/NGL
52

Italy GUE/NGL

3

United Kingdom GUE/NGL

Against (1)

1

Sweden GUE/NGL

Against (1)

1

Finland GUE/NGL

Against (1)

1

Netherlands GUE/NGL

3

Denmark GUE/NGL

Against (1)

1

Ireland GUE/NGL

Abstain (1)

4

Cyprus GUE/NGL

2

GUE/NGL

Abstain (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 27rev/2 #

2015/07/08 Outcome: +: 605, -: 101, 0: 2
DE FR IT ES RO PT HU AT CZ NL SE BG BE IE EL FI HR LT SI PL SK EE MT LU LV CY DK ?? GB
Total
92
73
67
50
28
20
19
17
20
21
19
17
18
10
18
13
11
10
8
49
13
6
6
5
7
5
12
3
70
icon: PPE PPE
201
2

Estonia PPE

For (1)

1

Luxembourg PPE

2

Cyprus PPE

1

Denmark PPE

For (1)

1
icon: S&D S&D
179

Netherlands S&D

3

Ireland S&D

For (1)

1

Croatia S&D

2

Slovenia S&D

For (1)

1

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Latvia S&D

1

Cyprus S&D

2
2
icon: ALDE ALDE
68

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Croatia ALDE

2

Slovenia ALDE

For (1)

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Latvia ALDE

1

Denmark ALDE

2

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Hungary Verts/ALE

2

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Denmark Verts/ALE

For (1)

1
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: NI NI
14

Germany NI

Against (1)

2

France NI

2

Spain NI

1

Hungary NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
42

France EFDD

1

Sweden EFDD

2

Poland EFDD

1
icon: ECR ECR
70

Italy ECR

2

Czechia ECR

2

Netherlands ECR

2

Bulgaria ECR

2

Greece ECR

For (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 27rev/3 #

2015/07/08 Outcome: +: 555, -: 105, 0: 32
DE IT FR ES RO PT HU AT SE CZ BG NL IE EL BE FI HR LT SI SK LU EE CY PL LV DK MT ?? GB
Total
88
62
73
50
26
20
19
17
19
21
16
22
10
18
18
13
11
10
8
13
5
5
5
49
6
12
4
3
68
icon: PPE PPE
196
2

Luxembourg PPE

2

Estonia PPE

For (1)

1

Cyprus PPE

1

Latvia PPE

2

Denmark PPE

For (1)

1
icon: S&D S&D
171

Netherlands S&D

3

Ireland S&D

For (1)

1

Croatia S&D

2

Slovenia S&D

For (1)

1

Luxembourg S&D

For (1)

1

Cyprus S&D

2

Latvia S&D

1

Malta S&D

2
2
icon: ALDE ALDE
66

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Croatia ALDE

2

Slovenia ALDE

For (1)

1

Luxembourg ALDE

For (1)

1

Estonia ALDE

3

Latvia ALDE

1

Denmark ALDE

2

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
51

Sweden GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Hungary Verts/ALE

2

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Denmark Verts/ALE

For (1)

1
icon: ENF ENF
33

Belgium ENF

Abstain (1)

1

Poland ENF

2
icon: NI NI
14

Germany NI

For (1)

Against (1)

2

France NI

2

Spain NI

1

Hungary NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
42

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: ECR ECR
70

Italy ECR

2

Czechia ECR

2

Bulgaria ECR

2

Netherlands ECR

2

Greece ECR

For (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC art 2 (-1) #

2015/07/08 Outcome: +: 415, 0: 182, -: 111
FR IT DE ES NL RO PT AT CZ EL BE SE BG LT IE FI EE HU CY LU HR DK SI ?? LV MT SK GB PL
Total
73
67
92
51
22
28
21
17
21
17
19
19
17
10
10
13
6
18
5
5
11
12
8
3
7
6
12
69
48
icon: S&D S&D
180

Netherlands S&D

3

Ireland S&D

For (1)

1

Estonia S&D

For (1)

1

Cyprus S&D

2

Luxembourg S&D

For (1)

1

Croatia S&D

2

Slovenia S&D

For (1)

1
2

Latvia S&D

1

Malta S&D

Abstain (1)

3
icon: ALDE ALDE
68

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Croatia ALDE

2

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Netherlands Verts/ALE

2

Austria Verts/ALE

3

Belgium Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Luxembourg Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

United Kingdom Verts/ALE

5
icon: ENF ENF
33

Belgium ENF

Abstain (1)

1

Poland ENF

2
icon: PPE PPE
201

Belgium PPE

For (1)

4

Lithuania PPE

2

Estonia PPE

Abstain (1)

1

Cyprus PPE

Abstain (1)

1

Luxembourg PPE

2

Denmark PPE

Abstain (1)

1
icon: NI NI
13

France NI

2

Germany NI

For (1)

Against (1)

2

Spain NI

1

Hungary NI

Against (1)

1

United Kingdom NI

Against (1)

1

Poland NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

Against (1)

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: ECR ECR
70

Italy ECR

2

Netherlands ECR

2

Czechia ECR

2

Greece ECR

For (1)

1

Bulgaria ECR

2

Lithuania ECR

Against (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC art 2 (-1 bis) #

2015/07/08 Outcome: +: 404, 0: 174, -: 127
FR IT ES DE RO PT AT NL BE EL CZ SE HU BG LT IE FI EE HR CY LU DK SI ?? LV MT SK GB PL
Total
72
67
49
92
27
21
16
22
19
18
20
19
19
17
10
10
13
6
11
5
5
12
8
3
7
6
13
70
47
icon: S&D S&D
180

Netherlands S&D

3

Ireland S&D

For (1)

1

Estonia S&D

For (1)

1

Croatia S&D

2

Cyprus S&D

2

Luxembourg S&D

For (1)

1

Slovenia S&D

For (1)

1
2

Latvia S&D

1

Malta S&D

Abstain (1)

3
icon: ALDE ALDE
66

Romania ALDE

3

Austria ALDE

For (1)

1
3

Ireland ALDE

For (1)

1

Estonia ALDE

3

Croatia ALDE

2

Luxembourg ALDE

For (1)

1

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
51

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Lithuania Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: NI NI
14

France NI

2

Spain NI

1

Germany NI

2

Hungary NI

For (1)

Abstain (1)

2

United Kingdom NI

Against (1)

1

Poland NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: PPE PPE
200

Austria PPE

For (1)

4

Belgium PPE

For (1)

4

Lithuania PPE

2

Finland PPE

3

Estonia PPE

Abstain (1)

1

Cyprus PPE

Abstain (1)

1

Luxembourg PPE

2

Denmark PPE

Abstain (1)

1
icon: ECR ECR
69

Italy ECR

2

Netherlands ECR

2

Greece ECR

For (1)

1

Czechia ECR

2

Bulgaria ECR

2

Lithuania ECR

Against (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC art 2 (-1 ter) #

2015/07/08 Outcome: +: 408, 0: 184, -: 117
FR IT ES DE NL RO PT AT CZ BE HU SE BG IE LT FI EE HR EL CY LU DK SI ?? MT LV SK GB PL
Total
72
67
50
92
22
28
21
17
21
19
19
19
17
10
9
13
6
11
18
5
5
12
8
3
6
7
13
69
49
icon: S&D S&D
179

Netherlands S&D

3

Ireland S&D

For (1)

1

Estonia S&D

For (1)

1

Croatia S&D

2

Cyprus S&D

2

Luxembourg S&D

For (1)

1

Slovenia S&D

For (1)

1
2

Malta S&D

3

Latvia S&D

1
icon: ALDE ALDE
67

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Estonia ALDE

3

Croatia ALDE

2

Luxembourg ALDE

For (1)

1

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Netherlands Verts/ALE

2

Austria Verts/ALE

3

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Lithuania Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

United Kingdom Verts/ALE

5
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: NI NI
14

France NI

2

Spain NI

1

Germany NI

For (1)

Against (1)

2

Hungary NI

2

United Kingdom NI

Against (1)

1

Poland NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: PPE PPE
203

Belgium PPE

For (1)

4

Lithuania PPE

2

Estonia PPE

Abstain (1)

1

Cyprus PPE

Abstain (1)

1

Luxembourg PPE

2

Denmark PPE

Abstain (1)

1
icon: ECR ECR
70

Italy ECR

2

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2

Lithuania ECR

Against (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Greece ECR

For (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC art 2 (-1 quater) #

2015/07/08 Outcome: +: 408, 0: 164, -: 136
FR IT ES DE RO PT AT NL CZ BE EL HU BG LT SE IE FI EE HR CY LU DK SI ?? LV MT SK GB PL
Total
73
66
50
92
28
21
17
22
21
18
18
19
17
10
18
10
13
6
11
5
5
12
8
3
7
6
13
69
49
icon: S&D S&D
179

Netherlands S&D

3

Ireland S&D

For (1)

1

Estonia S&D

For (1)

1

Croatia S&D

2

Cyprus S&D

2

Luxembourg S&D

For (1)

1

Slovenia S&D

For (1)

1
2

Latvia S&D

1

Malta S&D

Abstain (1)

3
icon: ALDE ALDE
67

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Estonia ALDE

3

Croatia ALDE

2

Luxembourg ALDE

For (1)

1

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Lithuania Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

United Kingdom Verts/ALE

5
icon: ENF ENF
32

Belgium ENF

For (1)

1

Poland ENF

2
icon: NI NI
14

France NI

2

Spain NI

1

Germany NI

2

Hungary NI

2

United Kingdom NI

Against (1)

1

Poland NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: PPE PPE
203

Belgium PPE

For (1)

3

Lithuania PPE

2

Estonia PPE

Abstain (1)

1

Cyprus PPE

Abstain (1)

1

Luxembourg PPE

2

Denmark PPE

Abstain (1)

1
icon: ECR ECR
70

Italy ECR

2

Netherlands ECR

2

Czechia ECR

2

Greece ECR

For (1)

1

Bulgaria ECR

2

Lithuania ECR

Against (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC art 2 bis #

2015/07/08 Outcome: +: 404, -: 154, 0: 151
FR IT ES DE RO AT PT NL BE SE BG CZ FI EL LT IE HR EE CY HU LU DK SI ?? MT LV SK GB PL
Total
72
67
51
92
28
17
20
22
18
19
17
21
13
18
10
10
11
6
5
19
5
11
8
3
6
7
13
70
49
icon: S&D S&D
178

Netherlands S&D

3

Ireland S&D

For (1)

1

Croatia S&D

2

Estonia S&D

For (1)

1

Cyprus S&D

2

Luxembourg S&D

For (1)

1

Slovenia S&D

For (1)

1
2

Malta S&D

Abstain (1)

3

Latvia S&D

1
icon: ALDE ALDE
68

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Croatia ALDE

2

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Luxembourg Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1
icon: ENF ENF
32

Poland ENF

2
icon: NI NI
14

France NI

2

Spain NI

1

Germany NI

For (1)

Against (1)

2

Hungary NI

2

United Kingdom NI

Against (1)

1

Poland NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: PPE PPE
203

Belgium PPE

For (1)

4

Finland PPE

3

Lithuania PPE

Abstain (1)

2

Ireland PPE

Against (1)

4

Estonia PPE

Against (1)

1

Cyprus PPE

Abstain (1)

1

Luxembourg PPE

2

Latvia PPE

Against (1)

3
icon: ECR ECR
70

Italy ECR

2

Netherlands ECR

2

Bulgaria ECR

2

Czechia ECR

2

Finland ECR

2

Greece ECR

For (1)

1

Lithuania ECR

Against (1)

1

Croatia ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC cons 1 #

2015/07/08 Outcome: -: 519, +: 185, 0: 7
IE EL FR EE FI ?? CY LT LU MT CZ LV DK SI BE HR NL BG PT SE AT SK ES IT HU RO PL DE GB
Total
10
18
73
6
12
3
5
10
5
6
21
7
12
8
19
11
22
17
21
19
17
13
51
67
19
28
49
92
69
icon: ALDE ALDE
68

Ireland ALDE

For (1)

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Latvia ALDE

1

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Croatia ALDE

2

Austria ALDE

For (1)

1

Romania ALDE

3

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Finland GUE/NGL

For (1)

1

GUE/NGL

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

United Kingdom GUE/NGL

1
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: NI NI
14

France NI

2

Spain NI

1

Hungary NI

2

Poland NI

Against (1)

1

Germany NI

For (1)

Against (1)

2

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: Verts/ALE Verts/ALE
48

France Verts/ALE

6

Estonia Verts/ALE

Against (1)

1

Finland Verts/ALE

Against (1)

1

Lithuania Verts/ALE

Against (1)

1

Luxembourg Verts/ALE

Against (1)

1

Latvia Verts/ALE

Against (1)

1

Denmark Verts/ALE

Against (1)

1

Slovenia Verts/ALE

Against (1)

1

Belgium Verts/ALE

Against (1)

1

Croatia Verts/ALE

Against (1)

1

Netherlands Verts/ALE

2
4

Austria Verts/ALE

3

Hungary Verts/ALE

2

United Kingdom Verts/ALE

6
icon: ECR ECR
70

Greece ECR

For (1)

1

Finland ECR

2

Lithuania ECR

Against (1)

1

Czechia ECR

2

Latvia ECR

Against (1)

1

Croatia ECR

Against (1)

1

Netherlands ECR

2

Bulgaria ECR

2

Italy ECR

2
icon: S&D S&D
178

Ireland S&D

Against (1)

1

Greece S&D

Against (1)

3

Estonia S&D

Against (1)

1

Finland S&D

1

S&D

2

Cyprus S&D

2

Lithuania S&D

2

Luxembourg S&D

Against (1)

1

Malta S&D

For (1)

3

Czechia S&D

For (1)

4

Latvia S&D

Against (1)

1
3

Slovenia S&D

Against (1)

1

Croatia S&D

2

Netherlands S&D

3

Slovakia S&D

4
icon: PPE PPE
204

Ireland PPE

For (1)

4

Estonia PPE

Against (1)

1

Finland PPE

3

Cyprus PPE

Against (1)

1

Lithuania PPE

2

Luxembourg PPE

2

Denmark PPE

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC cons 2 #

2015/07/08 Outcome: +: 578, -: 105, 0: 25
DE IT FR ES RO PT HU AT NL CZ BG SE IE EL BE FI HR LT SI SK EE MT LU LV CY PL DK ?? GB
Total
92
67
73
49
28
21
19
17
21
21
17
19
10
18
19
13
11
10
7
13
6
6
5
7
5
49
12
3
69
icon: PPE PPE
201
4

Belgium PPE

Against (1)

4
2

Estonia PPE

For (1)

1

Luxembourg PPE

2

Cyprus PPE

1

Denmark PPE

For (1)

1
icon: S&D S&D
180

Netherlands S&D

3

Ireland S&D

For (1)

1

Croatia S&D

2

Slovenia S&D

For (1)

1

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Latvia S&D

1

Cyprus S&D

2
2
icon: ALDE ALDE
68

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Croatia ALDE

2

Slovenia ALDE

For (1)

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Latvia ALDE

1

Denmark ALDE

2

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Netherlands GUE/NGL

3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
46

Hungary Verts/ALE

2

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Denmark Verts/ALE

For (1)

1

United Kingdom Verts/ALE

5
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: NI NI
14

Germany NI

2

France NI

2

Spain NI

1

Hungary NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: ECR ECR
70

Italy ECR

2

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2

Greece ECR

For (1)

1

Finland ECR

2

Croatia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC cons 2 bis #

2015/07/08 Outcome: +: 519, -: 178, 0: 12
IT DE ES RO FR HU PT SE AT EL IE FI BG CZ SI MT SK LU CY PL HR NL ?? LV BE DK EE LT GB
Total
67
91
50
28
73
19
21
19
17
18
10
13
17
21
8
6
12
5
5
49
11
22
3
7
19
12
6
9
70
icon: PPE PPE
201

Luxembourg PPE

2

Cyprus PPE

1

Denmark PPE

For (1)

1

Estonia PPE

For (1)

1
2
icon: S&D S&D
180

Ireland S&D

For (1)

1

Slovenia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Cyprus S&D

2

Croatia S&D

2

Netherlands S&D

3
2

Latvia S&D

1

Estonia S&D

For (1)

1
icon: GUE/NGL GUE/NGL
52

Portugal GUE/NGL

For (1)

4

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Netherlands GUE/NGL

3

GUE/NGL

1

Denmark GUE/NGL

For (1)

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Hungary Verts/ALE

2

Austria Verts/ALE

3

Finland Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Netherlands Verts/ALE

2

Latvia Verts/ALE

1

Belgium Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1
icon: NI NI
14

Germany NI

For (1)

Against (1)

2

Spain NI

1

France NI

2

Hungary NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: ENF ENF
33

Poland ENF

2

Belgium ENF

For (1)

1
icon: ALDE ALDE
68

Romania ALDE

Abstain (1)

3

Portugal ALDE

Against (1)

2

Sweden ALDE

3

Austria ALDE

Against (1)

1

Ireland ALDE

Against (1)

1

Bulgaria ALDE

For (1)

4

Slovenia ALDE

Against (1)

1

Luxembourg ALDE

For (1)

1

Croatia ALDE

2

Latvia ALDE

1

Denmark ALDE

2

Estonia ALDE

3
4

United Kingdom ALDE

Against (1)

1
icon: ECR ECR
70

Italy ECR

2

Greece ECR

For (1)

1

Finland ECR

2

Bulgaria ECR

2

Czechia ECR

2

Croatia ECR

Against (1)

1

Netherlands ECR

2

Latvia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC cons 9 bis #

2015/07/08 Outcome: -: 360, 0: 180, +: 165
FR ES CY EL AT ?? IT EE IE LU PT SE MT SI LV DK HR LT FI NL SK BE CZ HU BG RO DE GB PL
Total
72
48
5
18
17
3
67
6
10
5
21
19
6
7
7
12
11
10
12
22
13
18
21
19
17
28
91
70
49
icon: GUE/NGL GUE/NGL
51

Cyprus GUE/NGL

2

GUE/NGL

1

Portugal GUE/NGL

For (1)

4

Sweden GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
47

Austria Verts/ALE

3

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Denmark Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2
icon: ENF ENF
32

Poland ENF

2
icon: S&D S&D
180

Cyprus S&D

Abstain (1)

2

Greece S&D

3

S&D

2

Estonia S&D

Abstain (1)

1

Ireland S&D

Abstain (1)

1

Luxembourg S&D

Abstain (1)

1

Malta S&D

3

Slovenia S&D

Abstain (1)

1

Latvia S&D

Abstain (1)

1
3

Croatia S&D

2

Lithuania S&D

2

Finland S&D

2

Netherlands S&D

3

Czechia S&D

4
icon: NI NI
14

France NI

2

Spain NI

1

Hungary NI

2

Germany NI

Abstain (1)

2

United Kingdom NI

Against (1)

1

Poland NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: ALDE ALDE
67

Austria ALDE

Against (1)

1

Estonia ALDE

For (1)

Against (2)

3

Ireland ALDE

Against (1)

1

Luxembourg ALDE

Against (1)

1

Latvia ALDE

1

Denmark ALDE

2

Croatia ALDE

2
4

Romania ALDE

3

United Kingdom ALDE

Against (1)

1
icon: ECR ECR
69

Greece ECR

For (1)

1

Italy ECR

2

Latvia ECR

Against (1)

1

Croatia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Finland ECR

2

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2
icon: PPE PPE
201

Cyprus PPE

Against (1)

1

Estonia PPE

Against (1)

1

Luxembourg PPE

2

Denmark PPE

Against (1)

1

Lithuania PPE

2

Finland PPE

2

Belgium PPE

For (1)

4

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC/1 cons 13 #

2015/07/08 Outcome: +: 661, -: 38, 0: 2
DE FR IT ES PL RO GB NL PT CZ BE HU BG SE AT FI SK DK HR IE EL LT SI LV EE MT CY LU ??
Total
92
73
66
47
49
28
68
22
20
21
19
18
17
19
17
13
13
12
11
10
18
9
8
7
6
6
5
4
2
icon: PPE PPE
200

Denmark PPE

For (1)

1
2

Estonia PPE

For (1)

1

Cyprus PPE

1

Luxembourg PPE

2
icon: S&D S&D
180

Netherlands S&D

3

Croatia S&D

2

Ireland S&D

For (1)

1

Slovenia S&D

For (1)

1

Latvia S&D

1

Estonia S&D

For (1)

1

Malta S&D

3

Cyprus S&D

2

Luxembourg S&D

For (1)

1
2
icon: ALDE ALDE
68

Romania ALDE

3

United Kingdom ALDE

1

Austria ALDE

For (1)

1

Denmark ALDE

2

Croatia ALDE

2

Ireland ALDE

For (1)

1

Slovenia ALDE

For (1)

1

Latvia ALDE

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1
icon: ECR ECR
69

Italy ECR

2

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2
2

Croatia ECR

For (1)

1

Greece ECR

For (1)

1

Latvia ECR

For (1)

1
icon: GUE/NGL GUE/NGL
49

United Kingdom GUE/NGL

1

Netherlands GUE/NGL

3
3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Cyprus GUE/NGL

2
icon: Verts/ALE Verts/ALE
45

United Kingdom Verts/ALE

4

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Austria Verts/ALE

3

Finland Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Estonia Verts/ALE

For (1)

1
icon: ENF ENF
33

Poland ENF

2

Belgium ENF

For (1)

1
icon: NI NI
14

Germany NI

2

France NI

2

Spain NI

1

Poland NI

Against (1)

1

United Kingdom NI

For (1)

1

Hungary NI

2
icon: EFDD EFDD
42

France EFDD

1

Poland EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC/2 cons 13 #

2015/07/08 Outcome: +: 584, -: 120, 0: 1
DE IT ES RO FR PT HU EL AT CZ SE NL BG BE IE FI HR LT SI SK EE PL MT LU CY DK LV ?? GB
Total
90
67
48
28
72
21
19
18
17
21
19
22
17
19
10
13
11
10
8
13
6
48
6
5
5
12
7
3
69
icon: PPE PPE
200
2

Estonia PPE

For (1)

1

Luxembourg PPE

2

Cyprus PPE

1

Denmark PPE

For (1)

1

Latvia PPE

Against (1)

3
icon: S&D S&D
180

Netherlands S&D

3

Ireland S&D

For (1)

1

Croatia S&D

2

Slovenia S&D

For (1)

1

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Cyprus S&D

2

Latvia S&D

1
2
icon: ALDE ALDE
68

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Croatia ALDE

2

Slovenia ALDE

For (1)

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Denmark ALDE

2

Latvia ALDE

1

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
51

Sweden GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Hungary Verts/ALE

2

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Latvia Verts/ALE

1
icon: NI NI
13

Germany NI

2

France NI

2

Hungary NI

2

Poland NI

Against (1)

1

United Kingdom NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Poland EFDD

1
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: ECR ECR
68

Italy ECR

2

Greece ECR

For (1)

1

Czechia ECR

2

Netherlands ECR

2

Bulgaria ECR

2

Finland ECR

2

Croatia ECR

Against (1)

1

Lithuania ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC/3 cons 13 #

2015/07/08 Outcome: +: 668, -: 31
DE FR IT ES PL RO GB NL PT CZ BE HU BG AT EL SE FI SK DK HR LT IE SI LV MT EE CY LU ??
Total
91
73
66
49
47
28
70
22
20
21
19
19
17
17
17
19
13
13
12
11
10
10
8
6
6
5
5
3
2
icon: PPE PPE
200

Denmark PPE

For (1)

1
2

Estonia PPE

For (1)

1

Cyprus PPE

1

Luxembourg PPE

2
icon: S&D S&D
180

Netherlands S&D

3

Croatia S&D

2

Ireland S&D

For (1)

1

Slovenia S&D

For (1)

1

Latvia S&D

1

Malta S&D

3

Estonia S&D

For (1)

1

Cyprus S&D

2

Luxembourg S&D

For (1)

1
2
icon: ALDE ALDE
66

Romania ALDE

3

United Kingdom ALDE

1

Austria ALDE

For (1)

1

Denmark ALDE

2

Croatia ALDE

2

Ireland ALDE

For (1)

1

Slovenia ALDE

For (1)

1

Latvia ALDE

1

Estonia ALDE

2
icon: ECR ECR
67

Italy ECR

2

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2

Greece ECR

For (1)

1
2

Croatia ECR

For (1)

1

Lithuania ECR

1
icon: GUE/NGL GUE/NGL
49

United Kingdom GUE/NGL

1

Netherlands GUE/NGL

3
3

Sweden GUE/NGL

For (1)

1

Finland GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Cyprus GUE/NGL

2
icon: Verts/ALE Verts/ALE
47

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Austria Verts/ALE

3

Finland Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Estonia Verts/ALE

For (1)

1
icon: ENF ENF
33

Poland ENF

2

Belgium ENF

For (1)

1
icon: NI NI
14

Germany NI

For (1)

Against (1)

2

France NI

2

Spain NI

1

Poland NI

Against (1)

1

United Kingdom NI

For (1)

1

Hungary NI

2
icon: EFDD EFDD
43

France EFDD

1

Poland EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

A8-0158/2015 - Sergio Gaetano Cofferati - Am 1 PC cons 17 bis #

2015/07/08 Outcome: +: 410, 0: 195, -: 102
DE IT ES FR RO SE AT EL NL PT CZ BE HU BG FI IE LT EE HR CY LU DK SI ?? LV MT SK GB PL
Total
92
67
47
73
28
19
17
18
21
20
21
19
19
17
13
10
10
6
11
5
5
12
8
3
7
6
13
70
49
icon: S&D S&D
179

Netherlands S&D

3

Ireland S&D

For (1)

1

Estonia S&D

For (1)

1

Croatia S&D

2

Cyprus S&D

2

Luxembourg S&D

For (1)

1

Slovenia S&D

For (1)

1
2

Latvia S&D

1

Malta S&D

Abstain (1)

3
icon: ALDE ALDE
67

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Estonia ALDE

3

Croatia ALDE

2

Luxembourg ALDE

For (1)

1

Denmark ALDE

2

Slovenia ALDE

For (1)

1

Latvia ALDE

1

United Kingdom ALDE

1
icon: GUE/NGL GUE/NGL
52

Sweden GUE/NGL

For (1)

1

Netherlands GUE/NGL

3

Finland GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

Denmark GUE/NGL

For (1)

1

GUE/NGL

1

United Kingdom GUE/NGL

1
icon: Verts/ALE Verts/ALE
48

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Finland Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Latvia Verts/ALE

1
icon: PPE PPE
200

Belgium PPE

For (1)

4

Finland PPE

3

Lithuania PPE

2

Estonia PPE

Abstain (1)

1

Cyprus PPE

Abstain (1)

1

Luxembourg PPE

2

Denmark PPE

Abstain (1)

1
icon: ENF ENF
33

Belgium ENF

For (1)

1

Poland ENF

2
icon: NI NI
14

Germany NI

2

Spain NI

1

France NI

2

Hungary NI

2

United Kingdom NI

Against (1)

1

Poland NI

Against (1)

1
icon: EFDD EFDD
43

France EFDD

1

Sweden EFDD

2

Czechia EFDD

Against (1)

1

Poland EFDD

1
icon: ECR ECR
70

Italy ECR

2

Greece ECR

For (1)

1

Netherlands ECR

2

Czechia ECR

2

Bulgaria ECR

2

Finland ECR

2

Lithuania ECR

Against (1)

1

Croatia ECR

Against (1)

1

Latvia ECR

Against (1)

1

A8-0158/2015 - Sergio Gaetano Cofferati - Proposition modifiée #

2015/07/08 Outcome: +: 556, 0: 80, -: 67
FR IT ES DE RO PL AT CZ BG PT BE HU NL FI IE HR EL SK LT SI GB SE DK EE MT LU LV CY ??
Total
72
65
47
91
28
48
17
21
17
21
19
19
22
13
10
11
18
13
10
8
70
19
11
6
6
5
7
5
3
icon: S&D S&D
180

Netherlands S&D

3

Ireland S&D

For (1)

1

Croatia S&D

2

Slovenia S&D

For (1)

1

Estonia S&D

For (1)

1

Malta S&D

3

Luxembourg S&D

For (1)

1

Latvia S&D

1

Cyprus S&D

2
2
icon: PPE PPE
198
2

Denmark PPE

For (1)

1

Estonia PPE

For (1)

1

Luxembourg PPE

2

Latvia PPE

Abstain (1)

3

Cyprus PPE

1
icon: ALDE ALDE
67

Romania ALDE

3

Austria ALDE

For (1)

1

Ireland ALDE

For (1)

1

Croatia ALDE

2

Slovenia ALDE

For (1)

1

United Kingdom ALDE

1

Denmark ALDE

For (1)

1

Estonia ALDE

3

Luxembourg ALDE

For (1)

1

Latvia ALDE

1
icon: Verts/ALE Verts/ALE
48

Austria Verts/ALE

3

Belgium Verts/ALE

For (1)

1

Hungary Verts/ALE

2

Netherlands Verts/ALE

2

Finland Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Slovenia Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Latvia Verts/ALE

1
icon: GUE/NGL GUE/NGL
50

Italy GUE/NGL

2

Portugal GUE/NGL

For (1)

4

Netherlands GUE/NGL

3

Finland GUE/NGL

For (1)

1

United Kingdom GUE/NGL

1

Sweden GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Cyprus GUE/NGL

2

GUE/NGL

1
icon: ENF ENF
32

Poland ENF

2

Belgium ENF

Abstain (1)

1
icon: ECR ECR
70

Italy ECR

2

Czechia ECR

2

Bulgaria ECR

2

Netherlands ECR

For (1)

Abstain (1)

2

Finland ECR

2

Croatia ECR

Abstain (1)

1

Greece ECR

For (1)

1

Lithuania ECR

Abstain (1)

1

Latvia ECR

Abstain (1)

1
icon: NI NI
14

France NI

2

Spain NI

1

Germany NI

For (1)

Against (1)

2

Poland NI

Against (1)

1

Hungary NI

2

United Kingdom NI

Abstain (1)

1
icon: EFDD EFDD
43

France EFDD

1

Poland EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

A8-0158/2015 - Sergio Gaetano Cofferati - Am 32 #

2017/03/14 Outcome: +: 646, -: 39, 0: 13
DE FR IT ES PL RO GB BE CZ AT NL HU SE PT FI BG SK DK LT HR EL IE LV SI LU EE CY MT
Total
89
66
65
50
51
30
65
21
21
18
23
18
18
21
13
13
13
12
11
11
20
9
8
8
6
6
6
6
icon: PPE PPE
208

Denmark PPE

For (1)

1

Luxembourg PPE

3

Estonia PPE

For (1)

1

Cyprus PPE

1
icon: S&D S&D
179

Netherlands S&D

3

Croatia S&D

2

Ireland S&D

For (1)

1

Latvia S&D

1

Slovenia S&D

For (1)

1

Luxembourg S&D

For (1)

1

Estonia S&D

For (1)

1

Cyprus S&D

2

Malta S&D

3
icon: ECR ECR
68

Italy ECR

2

Romania ECR

For (1)

1

Czechia ECR

2

Netherlands ECR

2
2

Bulgaria ECR

2

Lithuania ECR

1

Croatia ECR

For (1)

1

Greece ECR

For (1)

1

Latvia ECR

For (1)

1

Cyprus ECR

1
icon: ALDE ALDE
59

Romania ALDE

2

United Kingdom ALDE

1

Austria ALDE

For (1)

1

Sweden ALDE

2

Portugal ALDE

1

Croatia ALDE

2

Ireland ALDE

For (1)

1

Latvia ALDE

1

Slovenia ALDE

For (1)

1

Luxembourg ALDE

For (1)

1

Estonia ALDE

3
icon: Verts/ALE Verts/ALE
48

Italy Verts/ALE

For (1)

1

Belgium Verts/ALE

2

Austria Verts/ALE

3

Netherlands Verts/ALE

2

Hungary Verts/ALE

2

Finland Verts/ALE

For (1)

1

Denmark Verts/ALE

For (1)

1

Lithuania Verts/ALE

For (1)

1

Croatia Verts/ALE

For (1)

1

Latvia Verts/ALE

1

Slovenia Verts/ALE

For (1)

1

Luxembourg Verts/ALE

For (1)

1

Estonia Verts/ALE

For (1)

1
icon: GUE/NGL GUE/NGL
45

United Kingdom GUE/NGL

1

Netherlands GUE/NGL

For (1)

1

Sweden GUE/NGL

For (1)

1

Portugal GUE/NGL

Abstain (1)

4

Finland GUE/NGL

For (1)

1

Denmark GUE/NGL

For (1)

1

Ireland GUE/NGL

3

Cyprus GUE/NGL

2
icon: ENF ENF
37

Germany ENF

Against (1)

1

Poland ENF

2

Romania ENF

1

United Kingdom ENF

Against (1)

1

Belgium ENF

Abstain (1)

1

Netherlands ENF

3
icon: NI NI
15

Germany NI

For (1)

Against (1)

2

France NI

2

Poland NI

Against (1)

1

United Kingdom NI

For (1)

Against (2)

3

Hungary NI

2
icon: EFDD EFDD
39

Germany EFDD

Against (1)

1

France EFDD

1

Poland EFDD

1

Czechia EFDD

Against (1)

1

Sweden EFDD

2

Lithuania EFDD

For (1)

1
AmendmentsDossier
543 2014/0121(COD)
2015/01/07 ECON 136 amendments...
source: 546.552
2015/02/06 JURI 206 amendments...
source: 549.129
2015/02/25 JURI 201 amendments...
source: 549.159

History

(these mark the time of scraping, not the official date of the change)

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          • date: 2014-04-09T00:00:00 docs: url: https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=SWD:2014:0126:FIN:EN:PDF title: EUR-Lex title: SWD(2014)0126 type: Document attached to the procedure body: EC
          • date: 2014-04-09T00:00:00 docs: url: https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=SWD:2014:0127:FIN:EN:PDF title: EUR-Lex title: SWD(2014)0127 type: Document attached to the procedure body: EC
          • date: 2014-04-09T00:00:00 docs: url: https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=SWD:2014:0128:FIN:EN:PDF title: EUR-Lex title: SWD(2014)0128 type: Document attached to the procedure body: EC
          • date: 2014-07-09T00:00:00 docs: url: https://dm.eesc.europa.eu/EESCDocumentSearch/Pages/redresults.aspx?k=(documenttype:AC)(documentnumber:2817)(documentyear:2014)(documentlanguage:EN) title: CES2817/2014 type: Economic and Social Committee: opinion, report body: ESC
          • date: 2014-10-28T00:00:00 docs: url: https://eur-lex.europa.eu/legal-content/FR/TXT/?uri=OJ:C:2014:417:TOC title: OJ C 417 21.11.2014, p. 0008 title: N8-0068/2014 summary: Opinion of the European Data Protection Supervisor on the Commission 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. The EDPS welcomed the prior consultation on this proposal and the fact that the Commission took into account several of its comments which resulted in the strengthening of the data protection safeguards in the proposed Directive. In March 2013, following the adoption of the Commission’s Action Plan: “European company law and corporate governance — a modern legal framework for more engaged shareholders and sustainable companies”, the EPDS provided preliminary guidance with regard to data protection and privacy concerns regarding ‘shareholder identification’ and ‘shareholder oversight of remuneration policy. The EDPS is of the opinion that the proposed Directive should: contain a general, substantive provision to refer to applicable data protection legislation; specify the purposes of processing and should clearly provide that neither the information regarding the identity of the shareholders, nor the data on the remuneration of individual directors, shall be used for any incompatible purposes; require companies to ensure that technical and organisational measures are put in place to limit accessibility of the information regarding individuals (such as shareholders or individual directors) after a certain period of time; require that in case the disclosure of the details of an individual director’s remuneration package reveal health data or other special categories of data protected under Article 8 of Directive 95/46/EC, then the information should be redacted so as to exclude any reference to such ‘more sensitive’ information . type: Document attached to the procedure body: EDPS
          • date: 2014-12-19T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE544.471 title: PE544.471 type: Committee draft report body: EP
          • date: 2015-02-05T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE549.129 title: PE549.129 type: Amendments tabled in committee body: EP
          • date: 2015-02-25T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE549.159 title: PE549.159 type: Amendments tabled in committee body: EP
          • date: 2015-03-02T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=COMPARL&mode=XML&language=EN&reference=PE541.604&secondRef=02 title: PE541.604 committee: ECON type: Committee opinion body: EP
          • date: 2017-03-07T00:00:00 docs: title: PE601.070 type: Amendments tabled in committee body: EP
          • date: 2017-05-16T00:00:00 docs: url: /oeil/spdoc.do?i=25733&j=0&l=en title: SP(2017)309 type: Commission response to text adopted in plenary
          • date: 2017-05-17T00:00:00 docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=[%n4]%2F17&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC title: 00002/2017/LEX type: Draft final act body: CSL
          • date: 2014-07-14T00:00:00 docs: url: http://www.connefof.europarl.europa.eu/connefof/app/exp/COM(2014)0213 title: COM(2014)0213 type: Contribution body: DE_BUNDESRAT
          • date: 2014-06-18T00:00:00 docs: url: http://www.connefof.europarl.europa.eu/connefof/app/exp/COM(2014)0213 title: COM(2014)0213 type: Contribution body: ES_PARLIAMENT
          • date: 2014-06-03T00:00:00 docs: url: http://www.connefof.europarl.europa.eu/connefof/app/exp/COM(2014)0213 title: COM(2014)0213 type: Contribution body: PT_PARLIAMENT
          • date: 2014-10-01T00:00:00 docs: url: http://www.connefof.europarl.europa.eu/connefof/app/exp/COM(2014)0213 title: COM(2014)0213 type: Contribution body: RO_CHAMBER
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          • date: 2014-04-09T00:00:00 type: Legislative proposal published body: EC docs: url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2014&nu_doc=0213 title: EUR-Lex title: COM(2014)0213 summary: PURPOSE: to revise Directive 2007/36/EC on the exercise of certain rights of shareholders in listed companies in order to contribute to their long-term sustainability. PROPOSED ACT: Directive of the European Parliament and the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: Directive 2007/36/EC of the European Parliament and of the Council establishes requirements in relation to the exercise of certain shareholder rights attaching to voting shares in relation to general meetings of companies which have their registered office in a Member State and whose shares are admitted to trading on a regulated market situated or operating within a Member State. The financial crisis has revealed that shareholders in many cases supported managers' excessive short-term risk taking . Moreover, there is clear evidence that institutional investors and their asset managers do not sufficiently focus on the real (long-term) performance of companies, but often on share-price movements and the structure of capital market indexes, which leads to suboptimal return for the end beneficiaries of institutional investors and puts short-term pressure on companies. The past years have highlighted certain corporate governance shortcomings in European listed companies. These shortcomings relate to different actors: companies’ and their boards, shareholders (institutional investors and asset managers) and proxy advisors. Five main issues have been identified : insufficient engagement of institutional investors and asset managers; insufficient link between pay and performance of directors; lack of shareholder oversight on related party transactions; inadequate transparency of proxy advisors; difficult and costly exercise of rights flowing from securities for investors. Stakeholders were consulted on two Green Papers (" Corporate governance in financial institution " and " The EU corporate governance framework "). Based on these consultations and further analysis, the Commission's Action Plan : European company law and corporate governance - a modern legal framework for more engaged shareholders and sustainable companies provides the Commission’s roadmap in the area, based the two objectives of enhancing transparency and engaging shareholders. IMPACT ASSESSMENT: a range of options, including no policy change, have been considered to address each of the presented problems. The preferred option is the following: 1) mandatory transparency of institutional investors and asset managers on their voting and engagement and certain aspects of asset management arrangements; 2) disclosure of the remuneration policy and individual remunerations, combined with a shareholder vote; 3) additional transparency and an independent opinion on more important related party transactions and submission of the most substantial transactions to shareholder approval; 4) binding disclosure requirements on the methodology and conflicts of interests of proxy advisors; 5) creating a framework to allow listed companies to identify their shareholders and requiring intermediaries to rapidly transmit information related to shareholders and to facilitate the exercise of shareholder rights. CONTENT: the main objectives of the proposal are as follows: Improving engagement of institutional investors and asset managers : the proposal should increase the transparency of institutional investors and asset managers. They will be required to develop a policy on shareholder engagement , which should contribute to managing actual or potential conflicts of interests with regard to shareholder engagement. They should in principle disclose to the public their engagement policy, how it has been implemented and the results thereof. Where institutional investors or asset managers decide not to develop an engagement policy and/or decide not to disclose the implementation and results thereof, they shall give a clear and reasoned explanation as to why this is the case. Strengthening the link between pay and performance of directors : the proposal aims at creating more transparency on remuneration policy and the actual remuneration awarded to directors and creating a better link between pay and performance of directors by improving shareholder oversight of directors’ remuneration. Shareholders should have the right to approve the remuneration policy and to vote on the remuneration report. All benefits of directors in whatever form will be included in the remuneration policy and report. The proposal does not regulate the level of remuneration and leaves decisions on this to companies and their shareholders. Improving shareholder oversight on related party transactions : the proposal requires listed companies that related party transactions representing more than 5% of the companies’ assets or transactions which can have a significant impact on profits or turnover to submit these transactions to the approval of shareholders and may not unconditionally conclude it without their approval. For smaller related party transactions that represent more than 1% of their assets , listed companies shall 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. In order to target only transactions that could be most disadvantageous for minority shareholders and to keep administrative burden limited Member States should be allowed to exclude transactions entered into between the company and members of its group that are fully owned by the listed company. Enhancing transparency of proxy advisors : the proposal will require proxy advisors to adopt and implement adequate measures to guarantee that their voting recommendations are accurate and reliable , based on a thorough analysis of all the information that is available to them and are not affected by any existing or potential conflict of interest or business relationship. Proxy advisors are required to publicly disclose certain key information related to the preparation of their voting recommendations. Facilitating the exercise of rights flowing from securities for investors : it is estimated that non-national shareholders hold some 44% of the shares in EU listed companies. The proposal requires Member States to ensure that intermediaries offer to listed companies the possibility to have their shareholders identified . Intermediaries should, on the request of such a company communicate without undue delay the name and contact details of the shareholders. The proposal also requires that intermediaries facilitate the exercise of the rights by the shareholder , including the right to participate and vote in general meetings and requires companies to confirm the votes cast in general meetings by or on behalf of shareholders.
          • date: 2014-04-16T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
          • date: 2014-10-20T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
          • date: 2015-03-12T00:00:00 type: Referral to associated committees announced in Parliament body: EP
          • date: 2015-05-07T00:00:00 type: Vote in committee, 1st reading/single reading body: EP
          • date: 2015-05-12T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A8-2015-0158&language=EN title: A8-0158/2015 summary: The Committee on Legal Affairs adopted the report by Sergio Gaetano COFFERATI (S&D, IT) 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. The Committee on Economic and Monetary Affairs, exercising its prerogatives as an associated committee under Parliament’s Rule 54 of the Rules of Procedure was consulted to give an opinion on the report. Purpose : Members stipulated that the amended Directive shall: (i) establish specific requirements in order to facilitate shareholders' engagement in the long term, including the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights; (ii) create transparency on the engagement policies of institutional investors and asset managers and on the activities of proxy advisors and; (iii) lay down certain requirements with regard to directors' remuneration and related party transaction. Support for long-term shareholding : in order to provide more stability for companies, Member States shall put in place a mechanism in order to promote shareholding on a long-term basis and foster long-term shareholders. The qualifying period in order to be considered a long term shareholder shall not be less than two years . The mechanism shall include one or more of the following advantages for long term shareholders: additional voting rights; tax incentives; loyalty dividends; loyalty shares. Transparency of asset managers : asset managers should be required to publicly disclose annually 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, information on the portfolio composition, on the portfolio turnover costs, on conflicts of interest which have arisen and how they have been dealt with should be disclosed. Transparency of proxy advisors : proxy advisors should adopt and follow a code of conduct . Departures from the code should be declared and explained, together with any alternative solutions which have been adopted. Proxy advisors should report on the application of their code of conduct on a yearly basis. Approval of the remuneration policy by stakeholders : the remuneration policy for company directors should also contribute to the long-term growth of the company so that it corresponds to a more effective practice of corporate governance and is not linked entirely or largely to short-term investment objectives. Companies should establish a remuneration policy as regards directors and submit it to a binding vote of the general meeting of shareholders. Any change to the policy shall be voted on at the general meeting of shareholders and the policy shall be submitted in any case for approval by the general meeting at least every three years. Directors’ performance should be assessed using both financial and non-financial performance criteria , including environmental, social and governance factors. The remuneration policy shall set clear criteria for the award of fixed and variable remuneration , including all bonuses and all benefits in whatever form. For variable remuneration, the criteria also include consideration of programmes relating to corporate social responsibility and the results achieved in this regard should be taken into consideration. Member States shall ensure that share-based remuneration does not represent the most significant part of directors' variable remuneration. In addition, the remuneration policy shall: indicate the main terms of the contracts of directors, including its duration and the applicable notice periods and terms of termination and payments linked to termination of contracts and the characteristics of supplementary pension or early retirement schemes; specify the company's procedures for the determination of the remuneration of directors, including the role and functioning of the remuneration committee; explain the specific decision-making process leading to its determination. Member States shall ensure that relevant stakeholders, in particular employees , are entitled, via their representatives, to express a view on the remuneration report before it is submitted to the shareholders. Additional disclosure for large undertakings : in the notes to the financial statements, large undertakings shall, in addition to the information required under the Directive, publicly disclose non-essential information in respect of the following matters, specifying by Member State and by third country in which it has a subsidiary . Undertakings whose average number of employees on a consolidated basis during the financial year does not exceed 500 and, on their balance sheet dates, do not exceed on a consolidated basis either a balance sheet total of €86 million or a net turnover of €100 million shall be exempt from the obligation . Additional disclosure for issuers : Member States shall require each issuer to publicly disclose annually, specifying by Member State and by third country in which it has a subsidiary, the following information on a consolidated basis for the financial year: (i) name(s), (ii) nature of activities and geographical location; (iii) turnover; (iv) number of employees on a full time equivalent basis; (v) tax on profit or loss; (vii) public subsidies received.
          • date: 2015-07-07T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20150707&type=CRE title: Debate in Parliament
          • date: 2015-07-08T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2015-0257 title: T8-0257/2015 summary: The European Parliament adopted by 556 votes to 67, with 80 abstentions, amendments to 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. The matter had been sent back for consideration to the competent committee . The vote had been set back for a later session. The main amendments adopted in plenary were as follows: Purpose : Members felt that the amended directive should: establish specific requirements in order to facilitate shareholders' engagement in the long term, including the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights; create transparency on the engagement policies of institutional investors and asset managers and on the activities of proxy advisors and lay down certain requirements with regard to directors' remuneration and related party transactions. Transparency and dialogue : Member States shall ensure that companies have the right to identify their shareholders , taking account of existing national systems. On the request of the company, the intermediary must communicate without undue delay to the company the information regarding shareholder identity. Companies shall in any case be allowed to give third parties an overview of the shareholding structure of the company by disclosing the different shareholder categories. The companies and the intermediaries must not store the information regarding shareholder identity transmitted to for longer than necessary. Intermediaries must facilitate the exercise of shareholder rights by the latter, including the right to participate and vote in general meetings . Companies must publicly disclose, via their website, the minutes of the general meetings and the results of votes. Furthermore, Member States may allow intermediaries to charge the costs of the service to be provided by the companies. Intermediaries shall publicly disclose prices , fees and any other charges separately for each service Any differences in the charges levied between domestic and cross-border exercise of rights shall only be permitted where duly justified and shall reflect the variation in actual costs incurred for delivering the services. Engagement policy: institutional investors and asset managers must develop a policy on shareholder engagement which shall determine how they conduct the following actions: (i) integrate shareholder engagement in their investment strategy; (ii) monitor investee companies, including on their non-financial performance, and reduction of social and environmental risks; (iii) conduct dialogue and cooperate with other stakeholders of the investee companies; (iv) exercise voting rights. Transparency of asset managers : institutional investors must disclose to the public how their investment strategy is aligned with the profile and duration of their liabilities and how it contributes to the medium to long-term performance of their assets. Moreover, asset managers should publicly disclose the portfolio turnover , whether they make investment decisions on the basis of judgements about medium to long-term performance of the investee company, and whether they use proxy advisors for the purpose of their engagement activities. Further information should be disclosed by the asset managers directly to the institutional investors, including information on the portfolio composition, on the portfolio turnover costs, on conflicts of interest that have arisen and how they have been dealt with. Right to vote on the remuneration policy: companies must establish a remuneration policy as regards directors and submit it to a binding vote of the general meeting of shareholders . Any change to the policy shall be voted on at the general meeting of shareholders and the policy shall be submitted in any case for approval by the general meeting at least every three years. However, Member States may provide that the votes by the general meeting on the remuneration policy are advisory . Directors’ remuneration policy must: be clear, understandable, in line with the business strategy, objectives, values and long-term interests of the company and shall incorporate measures to avoid conflicts of interest. explain how it contributes to the long-term interests and sustainability of the company; set clear criteria for the award of fixed and variable remuneration, including all bonuses and all benefits in whatever form; indicate the appropriate relative proportion of the different components of fixed and variable remuneration. For variable remuneration, the policy shall indicate the financial and non-financial performance criteria, including, where appropriate, consideration for programmes and results relating to corporate social responsibility; Member States shall ensure that (i) the value of shares does not play a dominant role in the financial performance criteria; (ii) share-based remuneration does not represent the most significant part of directors' variable remuneration. The remuneration policy shall also: indicate the main terms of the contracts of directors, including its duration and the applicable notice periods and terms of termination and payments linked to termination of contracts and the characteristics of supplementary pension or early retirement schemes; specify the company's procedures for the determination of the remuneration of directors, including the role and functioning of the remuneration committee; explain the specific decision-making process leading to its determination. Related party transactions : in order to ensure adequate safeguards for the protection of companies’ interests Member States should ensure that material related party transactions should be approved by the shareholders or by the administrative or supervisory body of the companies , in accordance with procedures which prevent a related party from taking advantage of its position and provide adequate protection for the interest of the company and of shareholders which are not related parties, including minority shareholders . Related parties companies should publicly announce such transactions at the latest at the time of conclusion. Additional disclosure for large undertakings : Members added large undertakings must provide a report by country on their businesses. This includes turnover; number of employees on a full time equivalent basis; value of assets and annual cost of maintaining those assets; sales and purchases; profit or loss before tax; tax on profit or loss; public subsidies received; Large undertakings shall, In the notes to the financial statements, publicly disclose essential elements of and information regarding tax rulings, providing a breakdown by Member State and by third country in which the large undertaking in question has a subsidiary. Undertakings of which the average number of employees on a consolidated basis during the financial year does not exceed 500 and which, on their balance sheet dates, have on a consolidated basis either a balance sheet which does not exceed a total of 86 million euros or a net turnover which does not exceeds EUR 100 million shall be exempt from this obligation.
          • date: 2015-07-08T00:00:00 type: Matter referred back to the committee responsible body: EP
          • date: 2017-01-31T00:00:00 type: Approval in committee of the text agreed at 1st reading interinstitutional negotiations body: EP
          • date: 2017-03-13T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=25733&l=en title: Results of vote in Parliament
          • date: 2017-03-13T00:00:00 type: Debate in Parliament body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?secondRef=TOC&language=EN&reference=20170313&type=CRE title: Debate in Parliament
          • date: 2017-03-14T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P8-TA-2017-0067 title: T8-0067/2017 summary: The European Parliament adopted by 646 votes to 39, with 13 abstentions, a legislative resolution 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. Parliament’s position adopted at first reading following the ordinary legislative procedure amended the Commission proposal. This proposed Directive establishes requirements in relation to the exercise of certain shareholder rights attached to voting shares in relation to general meetings of companies which have their registered office in a Member State and the shares of which are admitted to trading on a regulated market situated or operating within a Member State. The amended text reinforced the specific requirements which apply to the following provisions: Identification of shareholders : listed companies shall have the right to identify their shareholders in order to be able to communicate with them directly and to facilitate the exercise of shareholder rights and shareholder engagement, notably long-term. Member States shall ensure that the company is able to obtain information regarding shareholder identity from any intermediary in the chain that holds the information. They shall also ensure that companies and intermediaries do not store the personal data of shareholders transmitted to them for longer than 12 months after they have become aware that the person concerned has ceased to be a shareholder. Transmission of information : the intermediaries are required to transmit information, without delay, from the company to the shareholder or to a third party nominated by the shareholder to enable the shareholder to exercise rights flowing from its shares. Facilitation of the exercise of shareholder rights : Member States shall ensure that when votes are cast electronically an electronic confirmation of receipt of the votes is sent to the person that casts the vote. Member States may establish a deadline for requesting such confirmation. Such a deadline shall not be longer than three months from the date of the vote. When votes are cast electronically, an electronic confirmation of receipt of the votes is sent to the person that casts the vote. Remuneration of Directors : companies shall establish a remuneration policy as regards directors and that shareholders have the right to vote on the remuneration policy at the general meeting. Member States shall ensure that the vote by the shareholders at the general meeting on the remuneration policy is binding. Companies shall pay remuneration to their directors only in accordance with a remuneration policy that has been approved by the general meeting. Transparency of institutional investors, asset managers and proxy advisors : institutional investors and asset managers shall: publicly disclose a clear and reasoned explanation how they have incorporated investor engagement into their investment strategies or explain why they have chosen not to incorporate it; develop and publicly disclose an engagement policy that describes how they integrate shareholder engagement in their investment strategy. Institutional investors shall publicly disclose how the main elements of their equity investment strategy are consistent with the profile and duration of their liabilities, in particular long-term liabilities, and how they contribute to the medium to long-term performance of their assets. Asset managers shall: disclose information to the institutional investors on how they make investment decisions based on evaluation of medium to long-term performance of the investee company; supply information to institutional investors on potential conflicts of interests which have arisen in connection with engagements activities. Member States shall ensure that proxy advisors publicly disclose reference to a code of conduct which they apply and report on the application of that code of conduct. They shall also ensure that, in order to adequately inform their clients about the accuracy and reliability of their activities, proxy advisors publicly disclose, on an annual basis at least, information in relation to the procedures put in place to ensure quality of the research, advice and voting recommendations and qualifications of the staff involved.
          • date: 2017-04-03T00:00:00 type: Act adopted by Council after Parliament's 1st reading body: EP/CSL
          • date: 2017-05-17T00:00:00 type: Final act signed body: CSL
          • date: 2017-05-17T00:00:00 type: End of procedure in Parliament body: EP
          • date: 2017-05-20T00:00:00 type: Final act published in Official Journal summary: PURPOSE: to strengthen shareholders’ engagement in large European companies. LEGISLATIVE ACT: Directive (EU) 2017/828 of the European Parliament and of the Council amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement. CONTENT: the financial crisis revealed that shareholders in many cases supported managers’ excessive short-term risk taking. Moreover, there is clear evidence that the current level of ‘monitoring’ of investee companies and engagement by institutional investors and asset managers is often inadequate and focuses too much on short-term returns. The Directive amending Directive (EU) 2007/36 is intended to redress this situation. It establishes requirements in relation to the exercise of certain shareholder rights attached to voting shares in relation to general meetings of companies which have their registered office in a Member State and the shares of which are admitted to trading on a regulated market situated or operating within a Member State. It also establishes specific requirements in order to encourage shareholder engagement , in particular in the long term. Those specific requirements apply in relation to the following areas: Identification of shareholders : the new directive will ensure that companies are able to identify their shareholders and obtain information regarding shareholder identity from any intermediary in the chain that holds the information. The purpose is to facilitate the exercise of shareholder rights and their engagement with the company. Member states may provide that companies in their territory are only allowed to request identification with respect to shareholders holding more than a certain percentage of shares or voting rights which will not exceed 0.5%. The personal data of shareholders shall be processed to enable the company to identify its existing shareholders in order to communicate directly with them, with a view to facilitating the exercise of shareholder rights and shareholder engagement with the company. Transmission of information : intermediaries shall transmit, without delay, to the company, in accordance with the instructions received from the shareholders, the information received from the shareholders related to the exercise of the rights flowing from their shares. Facilitating the exercise of shareholder rights : intermediaries shall facilitate the exercise of the rights by the shareholder, including the right to participate and vote in general meetings. After the general meeting, the shareholder or a third party nominated by the shareholder may obtain, at least upon request, confirmation that their votes have been validly recorded and counted by the company, unless that information is already available to them. Member States may establish a deadline for requesting such confirmation. Such a deadline shall not be longer than three months from the date of the vote Confirmation of receipt of votes should be provided in the case of electronic voting. Intermediaries will be required to disclose any applicable fees for the services provided. Transparency of institutional investors, asset managers and proxy advisors : institutional investors (such as pension funds and life insurance companies) and asset managers shall disclose an engagement policy describing how they integrate shareholder engagement in their investment. If they fail to meet this requirement, they should explain the reasons why. The engagement policy shall also include policies for managing actual or potential conflicts of interest. Member States shall ensure that institutional investors publicly disclose how the main elements of their equity investment strategy are consistent with the profile and duration of their liabilities, in particular long-term liabilities, and how they contribute to the medium to long-term performance of their assets Member States shall ensure that proxy advisors (who provide research, advice and recommendations on how to vote in general meetings of listed companies) shall publicly disclose reference to a code of conduct which they apply and report on the application of that code of conduct. Remuneration of directors : shareholders shall have the right to vote on the remuneration policy of the directors of their company. The vote by the shareholders at the general meeting on the remuneration policy shall be binding. Companies shall pay remuneration to their directors only in accordance with a remuneration policy that has been approved by the general meeting. Under the new rules, remuneration policy shall contribute to the business strategy, long-term interests and sustainability of the company . It shall be clear and understandable and describe the different components of fixed and variable remuneration, including all bonuses and other benefits in whatever form, which can be awarded to directors and indicate their relative proportion. Remuneration policy shall be publicly disclosed without delay after the vote by the shareholders at the general meeting. Related parties transactions : the new Directive provides that material related party transactions shall be submitted to approval by the shareholders or by the administrative or supervisory body in order to provide adequate protection for the interests of the company. Companies shall publicly announce material transactions with related parties at the latest at the time of the conclusion of the transaction, together with information necessary to assess whether or not the transaction is fair and reasonable. ENTRY INTO FORCE: 9.6.2017. TRANSPOSITION: no later than 10.6.2019. docs: title: Directive 2017/828 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32017L0828 title: OJ L 132 20.05.2017, p. 0001 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2017:132:TOC
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          • body: EC dg: url: http://ec.europa.eu/info/departments/internal-market-industry-entrepreneurship-and-smes_en title: Internal Market, Industry, Entrepreneurship and SMEs commissioner: BIEŃKOWSKA Elżbieta
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          • The European Parliament adopted by 646 votes to 39, with 13 abstentions, a legislative resolution 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.

            Parliament’s position adopted at first reading following the ordinary legislative procedure amended the Commission proposal.

            This proposed Directive establishes requirements in relation to the exercise of certain shareholder rights attached to voting shares in relation to general meetings of companies which have their registered office in a Member State and the shares of which are admitted to trading on a regulated market situated or operating within a Member State.

            The amended text reinforced the specific requirements which apply to the following provisions:

            Identification of shareholders: listed companies shall have the right to identify their shareholders in order to be able to communicate with them directly and to facilitate the exercise of shareholder rights and shareholder engagement, notably long-term. Member States shall ensure that the company is able to obtain information regarding shareholder identity from any intermediary in the chain that holds the information. They shall also ensure that companies and intermediaries do not store the personal data of shareholders transmitted to them for longer than 12 months after they have become aware that the person concerned has ceased to be a shareholder.

            Transmission of information: the intermediaries are required to transmit information, without delay, from the company to the shareholder or to a third party nominated by the shareholder to enable the shareholder to exercise rights flowing from its shares.

            Facilitation of the exercise of shareholder rights: Member States shall ensure that when votes are cast electronically an electronic confirmation of receipt of the votes is sent to the person that casts the vote. Member States may establish a deadline for requesting such confirmation. Such a deadline shall not be longer than three months from the date of the vote. When votes are cast electronically, an electronic confirmation of receipt of the votes is sent to the person that casts the vote.

            Remuneration of Directors: companies shall establish a remuneration policy as regards directors and that shareholders have the right to vote on the remuneration policy at the general meeting. Member States shall ensure that the vote by the shareholders at the general meeting on the remuneration policy is binding. Companies shall pay remuneration to their directors only in accordance with a remuneration policy that has been approved by the general meeting.

            Transparency of institutional investors, asset managers and proxy advisors: institutional investors and asset managers shall:

            • publicly disclose a clear and reasoned explanation how they have incorporated investor engagement into their investment strategies or explain why they have chosen not to incorporate it;
            • develop and publicly disclose an engagement policy that describes how they integrate shareholder engagement in their investment strategy.

            Institutional investors shall publicly disclose how the main elements of their equity investment strategy are consistent with the profile and duration of their liabilities, in particular long-term liabilities, and how they contribute to the medium to long-term performance of their assets.

            Asset managers shall:

            • disclose information to the institutional investors on how they make investment decisions based on evaluation of medium to long-term performance of the investee company;
            • supply information to institutional investors on potential conflicts of interests which have arisen in connection with engagements activities.

            Member States shall ensure that proxy advisors publicly disclose reference to a code of conduct which they apply and report on the application of that code of conduct. They shall also ensure that, in order to adequately inform their clients about the accuracy and reliability of their activities, proxy advisors publicly disclose, on an annual basis at least, information in relation to the procedures put in place to ensure quality of the research, advice and voting recommendations and qualifications of the staff involved.

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          The European Parliament adopted amendments to 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.

          The matter had been sent back for consideration to the competent committee. The vote had been set back for a later session.

          The main amendments adopted in plenary were as follows:

          Purpose: Members felt that the amended directive should:

          • establish specific requirements in order to facilitate shareholders' engagement in the long term, including the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights;
          • create transparency on the engagement policies of institutional investors and asset managers and on the activities of proxy advisors and 
          • lay down certain requirements with regard to directors' remuneration and related party transactions.

          Transparency and dialogue: Member States shall ensure that companies have the right to identify their shareholders, taking account of existing national systems. On the request of the company, the intermediary must communicate without undue delay to the company the information regarding shareholder identity.  Companies shall in any case be allowed to give third parties an overview of the shareholding structure of the company by disclosing the different shareholder categories.

          The companies and the intermediaries must not store the information regarding shareholder identity transmitted to for longer than necessary.

          Intermediaries must facilitate the exercise of shareholder rights by the latter, including the right to participate and vote in general meetings. Companies must publicly disclose, via their website, the minutes of the general meetings and the results of votes. 

          Furthermore, Member States may allow intermediaries to charge the costs of the service to be provided by the companies. Intermediaries shall publicly disclose prices, fees and any other charges separately for each service

          Any differences in the charges levied between domestic and cross-border exercise of rights shall only be permitted where duly justified and shall reflect the variation in actual costs incurred for delivering the services.

          Engagement policy:  institutional investors and asset managers must develop a policy on shareholder engagement which shall determine how they conduct the following actions: (i) integrate shareholder engagement in their investment strategy; (ii) monitor investee companies, including on their non-financial performance, and reduction of social and environmental risks; (iii) conduct dialogue and cooperate with other stakeholders of the investee companies; (iv) exercise voting rights.

          Transparency of asset managers: institutional investors must disclose to the public how their investment strategy is aligned with the profile and duration of their liabilities and how it contributes to the medium to long-term performance of their assets. Moreover, asset managers should publicly disclose the portfolio turnover, whether they make investment decisions on the basis of judgements about medium to long-term performance of the investee company, and whether they use proxy advisors for the purpose of their engagement activities. Further information should be disclosed by the asset managers directly to the institutional investors, including information on the portfolio composition, on the portfolio turnover costs, on conflicts of interest that have arisen and how they have been dealt with. 

          Right to vote on the remuneration policy: companies must establish a remuneration policy as regards directors and submit it to a binding vote of the general meeting of shareholders. Any change to the policy shall be voted on at the general meeting of shareholders and the policy shall be submitted in any case for approval by the general meeting at least every three years.

          However, Member States may provide that the votes by the general meeting on the remuneration policy are advisory.

          Directors’ remuneration policy must:

          • be clear, understandable, in line with the business strategy, objectives, values and long-term interests of the company and shall incorporate measures to avoid conflicts of interest.
          • explain how it contributes to the long-term interests and sustainability of the company;
          • set clear criteria for the award of fixed and variable remuneration, including all bonuses and all benefits in whatever form;
          • indicate the appropriate relative proportion of the different components of fixed and variable remuneration. For variable remuneration, the policy shall indicate the financial and non-financial performance criteria, including, where appropriate, consideration for programmes and results relating to corporate social responsibility;

          Member States shall ensure that (i) the value of shares does not play a dominant role in the financial performance criteria; (ii) share-based remuneration does not represent the most significant part of directors' variable remuneration. 

          The remuneration policy shall also:

          • indicate the main terms of the contracts of directors, including its duration and the applicable notice periods and terms of termination and payments linked to termination of contracts and the characteristics of supplementary pension or early retirement schemes; 
          • specify the company's procedures for the determination of the remuneration of directors, including the role and functioning of the remuneration committee;
          • explain the specific decision-making process leading to its determination.

          Related party transactions: in order to ensure adequate safeguards for the protection of companies’ interests Member States should ensure that material related party transactions should be approved by the shareholders or by the administrative or supervisory body of the companies, in accordance with procedures which prevent a related party from taking advantage of its position and provide adequate protection for the interest of the company and of shareholders which are not related parties, including minority shareholders . Related parties companies should publicly announce such transactions at the latest at the time of conclusion.

          Additional disclosure for large undertakings: Members added large undertakings must provide a report by country on their businesses. This includes turnover; number of employees on a full time equivalent basis; value of assets and annual cost of maintaining those assets; sales and purchases; profit or loss before tax; tax on profit or loss; public subsidies received;

          Large undertakings shall, In the notes to the financial statements, publicly disclose essential elements of and information regarding tax rulings, providing a breakdown by Member State and by third country in which the large undertaking in question has a subsidiary.

          Undertakings of which the average number of employees on a consolidated basis during the financial year does not exceed 500 and which, on their balance sheet dates, have on a consolidated basis either a balance sheet which does not exceed a total of 86 million euros or a net turnover which does not exceeds EUR 100 million shall be exempt from this obligation.

          New

          The European Parliament adopted by 556 votes to 67, with 80 abstentions, amendments to 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.

          The matter had been sent back for consideration to the competent committee. The vote had been set back for a later session.

          The main amendments adopted in plenary were as follows:

          Purpose: Members felt that the amended directive should:

          • establish specific requirements in order to facilitate shareholders' engagement in the long term, including the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights;
          • create transparency on the engagement policies of institutional investors and asset managers and on the activities of proxy advisors and 
          • lay down certain requirements with regard to directors' remuneration and related party transactions.

          Transparency and dialogue: Member States shall ensure that companies have the right to identify their shareholders, taking account of existing national systems. On the request of the company, the intermediary must communicate without undue delay to the company the information regarding shareholder identity.  Companies shall in any case be allowed to give third parties an overview of the shareholding structure of the company by disclosing the different shareholder categories.

          The companies and the intermediaries must not store the information regarding shareholder identity transmitted to for longer than necessary.

          Intermediaries must facilitate the exercise of shareholder rights by the latter, including the right to participate and vote in general meetings. Companies must publicly disclose, via their website, the minutes of the general meetings and the results of votes. 

          Furthermore, Member States may allow intermediaries to charge the costs of the service to be provided by the companies. Intermediaries shall publicly disclose prices, fees and any other charges separately for each service

          Any differences in the charges levied between domestic and cross-border exercise of rights shall only be permitted where duly justified and shall reflect the variation in actual costs incurred for delivering the services.

          Engagement policy:  institutional investors and asset managers must develop a policy on shareholder engagement which shall determine how they conduct the following actions: (i) integrate shareholder engagement in their investment strategy; (ii) monitor investee companies, including on their non-financial performance, and reduction of social and environmental risks; (iii) conduct dialogue and cooperate with other stakeholders of the investee companies; (iv) exercise voting rights.

          Transparency of asset managers: institutional investors must disclose to the public how their investment strategy is aligned with the profile and duration of their liabilities and how it contributes to the medium to long-term performance of their assets. Moreover, asset managers should publicly disclose the portfolio turnover, whether they make investment decisions on the basis of judgements about medium to long-term performance of the investee company, and whether they use proxy advisors for the purpose of their engagement activities. Further information should be disclosed by the asset managers directly to the institutional investors, including information on the portfolio composition, on the portfolio turnover costs, on conflicts of interest that have arisen and how they have been dealt with. 

          Right to vote on the remuneration policy: companies must establish a remuneration policy as regards directors and submit it to a binding vote of the general meeting of shareholders. Any change to the policy shall be voted on at the general meeting of shareholders and the policy shall be submitted in any case for approval by the general meeting at least every three years.

          However, Member States may provide that the votes by the general meeting on the remuneration policy are advisory.

          Directors’ remuneration policy must:

          • be clear, understandable, in line with the business strategy, objectives, values and long-term interests of the company and shall incorporate measures to avoid conflicts of interest.
          • explain how it contributes to the long-term interests and sustainability of the company;
          • set clear criteria for the award of fixed and variable remuneration, including all bonuses and all benefits in whatever form;
          • indicate the appropriate relative proportion of the different components of fixed and variable remuneration. For variable remuneration, the policy shall indicate the financial and non-financial performance criteria, including, where appropriate, consideration for programmes and results relating to corporate social responsibility;

          Member States shall ensure that (i) the value of shares does not play a dominant role in the financial performance criteria; (ii) share-based remuneration does not represent the most significant part of directors' variable remuneration. 

          The remuneration policy shall also:

          • indicate the main terms of the contracts of directors, including its duration and the applicable notice periods and terms of termination and payments linked to termination of contracts and the characteristics of supplementary pension or early retirement schemes; 
          • specify the company's procedures for the determination of the remuneration of directors, including the role and functioning of the remuneration committee;
          • explain the specific decision-making process leading to its determination.

          Related party transactions: in order to ensure adequate safeguards for the protection of companies’ interests Member States should ensure that material related party transactions should be approved by the shareholders or by the administrative or supervisory body of the companies, in accordance with procedures which prevent a related party from taking advantage of its position and provide adequate protection for the interest of the company and of shareholders which are not related parties, including minority shareholders . Related parties companies should publicly announce such transactions at the latest at the time of conclusion.

          Additional disclosure for large undertakings: Members added large undertakings must provide a report by country on their businesses. This includes turnover; number of employees on a full time equivalent basis; value of assets and annual cost of maintaining those assets; sales and purchases; profit or loss before tax; tax on profit or loss; public subsidies received;

          Large undertakings shall, In the notes to the financial statements, publicly disclose essential elements of and information regarding tax rulings, providing a breakdown by Member State and by third country in which the large undertaking in question has a subsidiary.

          Undertakings of which the average number of employees on a consolidated basis during the financial year does not exceed 500 and which, on their balance sheet dates, have on a consolidated basis either a balance sheet which does not exceed a total of 86 million euros or a net turnover which does not exceeds EUR 100 million shall be exempt from this obligation.

          activities/7/docs/0/text
          • The European Parliament adopted amendments to 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.

            The matter had been sent back for consideration to the competent committee. The vote had been set back for a later session.

            The main amendments adopted in plenary were as follows:

            Purpose: Members felt that the amended directive should:

            • establish specific requirements in order to facilitate shareholders' engagement in the long term, including the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights;
            • create transparency on the engagement policies of institutional investors and asset managers and on the activities of proxy advisors and 
            • lay down certain requirements with regard to directors' remuneration and related party transactions.

            Transparency and dialogue: Member States shall ensure that companies have the right to identify their shareholders, taking account of existing national systems. On the request of the company, the intermediary must communicate without undue delay to the company the information regarding shareholder identity.  Companies shall in any case be allowed to give third parties an overview of the shareholding structure of the company by disclosing the different shareholder categories.

            The companies and the intermediaries must not store the information regarding shareholder identity transmitted to for longer than necessary.

            Intermediaries must facilitate the exercise of shareholder rights by the latter, including the right to participate and vote in general meetings. Companies must publicly disclose, via their website, the minutes of the general meetings and the results of votes. 

            Furthermore, Member States may allow intermediaries to charge the costs of the service to be provided by the companies. Intermediaries shall publicly disclose prices, fees and any other charges separately for each service

            Any differences in the charges levied between domestic and cross-border exercise of rights shall only be permitted where duly justified and shall reflect the variation in actual costs incurred for delivering the services.

            Engagement policy:  institutional investors and asset managers must develop a policy on shareholder engagement which shall determine how they conduct the following actions: (i) integrate shareholder engagement in their investment strategy; (ii) monitor investee companies, including on their non-financial performance, and reduction of social and environmental risks; (iii) conduct dialogue and cooperate with other stakeholders of the investee companies; (iv) exercise voting rights.

            Transparency of asset managers: institutional investors must disclose to the public how their investment strategy is aligned with the profile and duration of their liabilities and how it contributes to the medium to long-term performance of their assets. Moreover, asset managers should publicly disclose the portfolio turnover, whether they make investment decisions on the basis of judgements about medium to long-term performance of the investee company, and whether they use proxy advisors for the purpose of their engagement activities. Further information should be disclosed by the asset managers directly to the institutional investors, including information on the portfolio composition, on the portfolio turnover costs, on conflicts of interest that have arisen and how they have been dealt with. 

            Right to vote on the remuneration policy: companies must establish a remuneration policy as regards directors and submit it to a binding vote of the general meeting of shareholders. Any change to the policy shall be voted on at the general meeting of shareholders and the policy shall be submitted in any case for approval by the general meeting at least every three years.

            However, Member States may provide that the votes by the general meeting on the remuneration policy are advisory.

            Directors’ remuneration policy must:

            • be clear, understandable, in line with the business strategy, objectives, values and long-term interests of the company and shall incorporate measures to avoid conflicts of interest.
            • explain how it contributes to the long-term interests and sustainability of the company;
            • set clear criteria for the award of fixed and variable remuneration, including all bonuses and all benefits in whatever form;
            • indicate the appropriate relative proportion of the different components of fixed and variable remuneration. For variable remuneration, the policy shall indicate the financial and non-financial performance criteria, including, where appropriate, consideration for programmes and results relating to corporate social responsibility;

            Member States shall ensure that (i) the value of shares does not play a dominant role in the financial performance criteria; (ii) share-based remuneration does not represent the most significant part of directors' variable remuneration. 

            The remuneration policy shall also:

            • indicate the main terms of the contracts of directors, including its duration and the applicable notice periods and terms of termination and payments linked to termination of contracts and the characteristics of supplementary pension or early retirement schemes; 
            • specify the company's procedures for the determination of the remuneration of directors, including the role and functioning of the remuneration committee;
            • explain the specific decision-making process leading to its determination.

            Related party transactions: in order to ensure adequate safeguards for the protection of companies’ interests Member States should ensure that material related party transactions should be approved by the shareholders or by the administrative or supervisory body of the companies, in accordance with procedures which prevent a related party from taking advantage of its position and provide adequate protection for the interest of the company and of shareholders which are not related parties, including minority shareholders . Related parties companies should publicly announce such transactions at the latest at the time of conclusion.

            Additional disclosure for large undertakings: Members added large undertakings must provide a report by country on their businesses. This includes turnover; number of employees on a full time equivalent basis; value of assets and annual cost of maintaining those assets; sales and purchases; profit or loss before tax; tax on profit or loss; public subsidies received;

            Large undertakings shall, In the notes to the financial statements, publicly disclose essential elements of and information regarding tax rulings, providing a breakdown by Member State and by third country in which the large undertaking in question has a subsidiary.

            Undertakings of which the average number of employees on a consolidated basis during the financial year does not exceed 500 and which, on their balance sheet dates, have on a consolidated basis either a balance sheet which does not exceed a total of 86 million euros or a net turnover which does not exceeds EUR 100 million shall be exempt from this obligation.

          activities/6/docs
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          • The Committee on Legal Affairs adopted the report by Sergio Gaetano COFFERATI (S&D, IT) 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.

            The Committee on Economic and Monetary Affairs, exercising its prerogatives as an associated committee under Parliament’s Rule 54 of the Rules of Procedure was consulted to give an opinion on the report.

            Purpose: Members stipulated that the amended Directive shall: (i) establish specific requirements in order to facilitate shareholders' engagement in the long term, including the identification of shareholders, the transmission of information and the facilitation of the exercise of shareholder rights; (ii) create transparency on the engagement policies of institutional investors and asset managers and on the activities of proxy advisors and; (iii) lay down certain requirements with regard to directors' remuneration and related party transaction.

            Support for long-term shareholding:  in order to provide more stability for companies, Member States shall put in place a mechanism in order to promote shareholding on a long-term basis and foster long-term shareholders. The qualifying period in order to be considered a long term shareholder shall not be less than two years.

            The mechanism shall include one or more of the following advantages for long term shareholders: additional voting rights; tax incentives; loyalty dividends; loyalty shares.

            Transparency of asset managers: asset managers should be required to publicly disclose annually 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, information on the portfolio composition, on the portfolio turnover costs, on conflicts of interest which have arisen and how they have been dealt with should be disclosed.

            Transparency of proxy advisors: proxy advisors should adopt and follow a code of conduct. Departures from the code should be declared and explained, together with any alternative solutions which have been adopted. Proxy advisors should report on the application of their code of conduct on a yearly basis.

            Approval of the remuneration policy by stakeholders: the remuneration policy for company directors should also contribute to the long-term growth of the company so that it corresponds to a more effective practice of  corporate governance and is not linked entirely or largely to short-term investment objectives. Companies should establish a remuneration policy as regards directors and submit it to a binding vote of the general meeting of shareholders. Any change to the policy shall be voted on at the general meeting of shareholders and the policy shall be submitted in any case for approval by the general meeting at least every three years.

            Directors’ performance should be assessed using both financial and non-financial performance criteria, including environmental, social and governance factors.

            The remuneration policy shall set clear criteria for the award of fixed and variable remuneration, including all bonuses and all benefits in whatever form.

            For variable remuneration, the criteria also include consideration of programmes relating to corporate social responsibility and the results achieved in this regard should be taken into consideration. Member States shall ensure that share-based remuneration does not represent the most significant part of directors' variable remuneration.

            In addition, the remuneration policy shall:

            • indicate the main terms of the contracts of directors, including its duration and the applicable notice periods and terms of termination and payments linked to termination of contracts and the characteristics of supplementary pension or early retirement schemes;
            • specify the company's procedures for the determination of the remuneration of directors, including the role and functioning of the remuneration committee;
            • explain the specific decision-making process leading to its determination.

            Member States shall ensure that relevant stakeholders, in particular employees, are entitled, via their representatives, to express a view on the remuneration report before it is submitted to the shareholders.

            Additional disclosure for large undertakings: in the notes to the financial statements, large undertakings shall, in addition to the information required under the Directive, publicly disclose non-essential information in respect of the following matters, specifying by Member State and by third country in which it has a subsidiary.

            Undertakings whose average number of employees on a consolidated basis during the financial year does not exceed 500 and, on their balance sheet dates, do not exceed on a consolidated basis either a balance sheet total of €86 million or a net turnover of €100 million shall be exempt from the obligation.

            Additional disclosure for issuers: Member States shall require each issuer to publicly disclose annually, specifying by Member State and by third country in which it has a subsidiary, the following information on a consolidated basis for the financial year: (i) name(s), (ii) nature of activities and geographical location; (iii) turnover; (iv) number of employees on a full time equivalent basis; (v) tax on profit or loss; (vii) public subsidies received.

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          • body: EP responsible: False committee_full: Internal Market and Consumer Protection committee: IMCO
          • body: EP shadows: group: EPP name: TOTI Giovanni group: ECR name: KARIM Sajjad group: ALDE name: WIKSTRÖM Cecilia group: GUE/NGL name: MAŠTÁLKA Jiří group: Verts/ALE name: DURAND Pascal responsible: True committee: JURI date: 2014-09-24T00:00:00 committee_full: Legal Affairs rapporteur: group: S&D name: COFFERATI Sergio Gaetano
          • body: EP responsible: True committee_full: Legal Affairs committee: JURI
          • body: EP responsible: False committee_full: Civil Liberties, Justice and Home Affairs committee: LIBE
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          group
          ALDE
          name
          WIKSTRÖM Cecilia
          committees/3/shadows/1
          group
          ALDE
          name
          WIKSTRÖM Cecilia
          activities/1/committees/3/shadows/2
          group
          Verts/ALE
          name
          DURAND Pascal
          committees/3/shadows/2
          group
          Verts/ALE
          name
          DURAND Pascal
          activities/1/committees/3/shadows/0
          group
          EPP
          name
          TOTI Giovanni
          committees/3/shadows/0
          group
          EPP
          name
          TOTI Giovanni
          activities/1/committees/3/shadows
          • group: GUE/NGL name: MAŠTÁLKA Jiří
          committees/3/shadows
          • group: GUE/NGL name: MAŠTÁLKA Jiří
          activities/1/committees/3
          body
          EP
          responsible
          True
          committee
          JURI
          date
          2014-09-24T00:00:00
          committee_full
          Legal Affairs
          rapporteur
          group: S&D name: COFFERATI Sergio Gaetano
          committees/3
          body
          EP
          responsible
          True
          committee
          JURI
          date
          2014-09-24T00:00:00
          committee_full
          Legal Affairs
          rapporteur
          group: S&D name: COFFERATI Sergio Gaetano
          activities/1/committees/0
          body
          EP
          responsible
          False
          committee
          ECON
          date
          2014-07-22T00:00:00
          committee_full
          Economic and Monetary Affairs
          rapporteur
          group: S&D name: LUDVIGSSON Olle
          committees/0
          body
          EP
          responsible
          False
          committee
          ECON
          date
          2014-07-22T00:00:00
          committee_full
          Economic and Monetary Affairs
          rapporteur
          group: S&D name: LUDVIGSSON Olle
          activities/0/docs/0/url
          http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2014&nu_doc=0213
          procedure/dossier_of_the_committee
          Old
          JURI/7/15623
          New
          JURI/8/00435
          activities/0/docs/0/text
          • PURPOSE: to revise Directive 2007/36/EC on the exercise of certain rights of shareholders in listed companies in order to contribute to their long-term sustainability.

            PROPOSED ACT: Directive of the European Parliament and the Council.

            ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.

            BACKGROUND: Directive 2007/36/EC of the European Parliament and of the Council establishes requirements in relation to the exercise of certain shareholder rights attaching to voting shares in relation to general meetings of companies which have their registered office in a Member State and whose shares are admitted to trading on a regulated market situated or operating within a Member State.

            The financial crisis has revealed that shareholders in many cases supported managers' excessive short-term risk taking. Moreover, there is clear evidence that institutional investors and their asset managers do not sufficiently focus on the real (long-term) performance of companies, but often on share-price movements and the structure of capital market indexes, which leads to suboptimal return for the end beneficiaries of institutional investors and puts short-term pressure on companies.

            The past years have highlighted certain corporate governance shortcomings in European listed companies. These shortcomings relate to different actors: companies’ and their boards, shareholders (institutional investors and asset managers) and proxy advisors.

            Five main issues have been identified:

            • insufficient engagement of institutional investors and asset managers;
            • insufficient link between pay and performance of directors;
            • lack of shareholder oversight on related party transactions;
            • inadequate transparency of proxy advisors;
            • difficult and costly exercise of rights flowing from securities for investors.

            Stakeholders were consulted on two Green Papers ("Corporate governance in financial institution" and "The EU corporate governance framework").

            Based on these consultations and further analysis, the Commission's Action Plan: European company law and corporate governance - a modern legal framework for more engaged shareholders and sustainable companies provides the Commission’s roadmap in the area, based the two objectives of enhancing transparency and engaging shareholders.

            IMPACT ASSESSMENT: a range of options, including no policy change, have been considered to address each of the presented problems. The preferred option is the following:

            1) mandatory transparency of institutional investors and asset managers on their voting and engagement and certain aspects of asset management arrangements;

            2) disclosure of the remuneration policy and individual remunerations, combined with a shareholder vote;

            3) additional transparency and an independent opinion on more important related party transactions and submission of the most substantial transactions to shareholder approval;

            4) binding disclosure requirements on the methodology and conflicts of interests of proxy advisors;

            5) creating a framework to allow listed companies to identify their shareholders and requiring intermediaries to rapidly transmit information related to shareholders and to facilitate the exercise of shareholder rights.

            CONTENT: the main objectives of the proposal are as follows:

            Improving engagement of institutional investors and asset managers: the proposal should increase the transparency of institutional investors and asset managers. They will be required to develop a policy on shareholder engagement, which should contribute to managing actual or potential conflicts of interests with regard to shareholder engagement. They should in principle disclose to the public their engagement policy, how it has been implemented and the results thereof. Where institutional investors or asset managers decide not to develop an engagement policy and/or decide not to disclose the implementation and results thereof, they shall give a clear and reasoned explanation as to why this is the case.

            Strengthening the link between pay and performance of directors: the proposal aims at creating more transparency on remuneration policy and the actual remuneration awarded to directors and creating a better link between pay and performance of directors by improving shareholder oversight of directors’ remuneration.

            Shareholders should have the right to approve the remuneration policy and to vote on the remuneration report. All benefits of directors in whatever form will be included in the remuneration policy and report. The proposal does not regulate the level of remuneration and leaves decisions on this to companies and their shareholders.

            Improving shareholder oversight on related party transactions: the proposal requires listed companies that related party transactions representing more than 5% of the companies’ assets or transactions which can have a significant impact on profits or turnover to submit these transactions to the approval of shareholders and may not unconditionally conclude it without their approval.

            For smaller related party transactions that represent more than 1% of their assets, listed companies shall 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.

            In order to target only transactions that could be most disadvantageous for minority shareholders and to keep administrative burden limited Member States should be allowed to exclude transactions entered into between the company and members of its group that are fully owned by the listed company.

            Enhancing transparency of proxy advisors: the proposal will require proxy advisors to adopt and implement adequate measures to guarantee that their voting recommendations are accurate and reliable, based on a thorough analysis of all the information that is available to them and are not affected by any existing or potential conflict of interest or business relationship. Proxy advisors are required to publicly disclose certain key information related to the preparation of their voting recommendations.

            Facilitating the exercise of rights flowing from securities for investors: it is estimated that non-national shareholders hold some 44% of the shares in EU listed companies. The proposal requires Member States to ensure that intermediaries offer to listed companies the possibility to have their shareholders identified. Intermediaries should, on the request of such a company communicate without undue delay the name and contact details of the shareholders.

            The proposal also requires that intermediaries facilitate the exercise of the rights by the shareholder, including the right to participate and vote in general meetings and requires companies to confirm the votes cast in general meetings by or on behalf of shareholders.

          activities/0/commission/0
          DG
          Commissioner
          BARNIER Michel
          other/0
          body
          EC
          dg
          commissioner
          BARNIER Michel
          activities
          • date: 2014-04-09T00:00:00 docs: celexid: CELEX:52014PC0213:EN type: Legislative proposal published title: COM(2014)0213 type: Legislative proposal published body: EC commission:
          • date: 2014-04-16T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: False committee_full: Economic and Monetary Affairs committee: ECON body: EP responsible: False committee_full: Internal Market and Consumer Protection committee: IMCO body: EP responsible: True committee_full: Legal Affairs committee: JURI body: EP responsible: False committee_full: Civil Liberties, Justice and Home Affairs committee: LIBE
          committees
          • body: EP responsible: False committee_full: Economic and Monetary Affairs committee: ECON
          • body: EP responsible: False committee_full: Internal Market and Consumer Protection committee: IMCO
          • body: EP responsible: True committee_full: Legal Affairs committee: JURI
          • body: EP responsible: False committee_full: Civil Liberties, Justice and Home Affairs committee: LIBE
          links
          European Commission
          other
            procedure
            dossier_of_the_committee
            JURI/7/15623
            Mandatory consultation of other institutions
            Economic and Social Committee
            reference
            2014/0121(COD)
            instrument
            Directive
            legal_basis
            stage_reached
            Awaiting committee decision
            summary
            subtype
            Legislation
            title
            Corporate governance: long-term shareholder engagement; corporate governance statement
            type
            COD - Ordinary legislative procedure (ex-codecision procedure)
            subject