Publication
UK failure to prevent fraud offence: What do you need to do now?
A new “failure to prevent fraud” offence has been introduced as part of the Economic Crime and Corporate Transparency Act (the Act).
Luxembourg | Publication | September 2019
Law n°562 of August 1, 2019 implementing the Directive (EU) 2017/828 with regards to the encouragement of long-term shareholder engagement (the SRD II) and amending the Luxembourg law of May 24, 2011 on the exercise of certain rights of shareholders in listed companies (the Law) was published on August 20, 2019.
In addition to the Law, a new Regulation (EU) 2018/1212 will become applicable from September 3, 2020, aimed at improving the communication between listed companies and their shareholders.
The Law applies to:
Directors of the relevant entities will be personally and jointly liable for any damage resulting from the breach of their respective obligations imposed by the Law.
Asset managers are subject to transparency obligations (i) relating to their engagement policy describing the integration of shareholder engagement into their investment strategy and (ii) towards institutional investors.
Institutional investors are subject to (i) transparency obligations similar to those of asset managers and (ii) disclosure requirements in connection with equity investment strategy and agreements entered into with asset managers.
Intermediaries are subject to obligations relating to the transmission of information (i) to the Issuer to allow the identification of shareholders and (ii) to the shareholders to allow the exercise of their rights. In addition, they must (iii) facilitate the exercise of shareholder rights and (iv) disclose the applicable non-discriminatory and proportional charges for services provided to shareholders.
Proxy advisors are subject to disclosure obligations with respect of (i) their code of conduct or justification in case of non-compliance and (ii) annual disclosure of key information in relation to their research and voting recommendations.
Issuers are subject to obligations relating to (i) transmission of information to shareholders and facilitation of the exercise of their rights, (ii) voting/approval rights of shareholders on, and disclosure of, remuneration policy and remuneration report and (iii) the submission of material related party transactions to the approval of the competent management body.
Publication
A new “failure to prevent fraud” offence has been introduced as part of the Economic Crime and Corporate Transparency Act (the Act).
Publication
On April 11 - 12, Luxatia International held the 4th World Legal Operations Summit in Berlin. Tom Evans, senior consultant in our Legal Operations Consulting Team, shared his tips for driving effective change management and leading successful transformation projects.
Publication
On May 14, 2024, Lena Haffner, Innovation Lead Germany at Norton Rose Fulbright, shared her insights on “How do you make a law firm AI ready?" at Legal Revolution 2024, one of Europe’s leading conferences in legal innovation and technology. Her lecture focused on developing a comprehensive roadmap for integrating AI into law firms, emphasizing the importance of developing a robust AI strategy and fostering an innovation-ready culture. Key topics covered in the lecture included strategic planning, skills development, multidisciplinary teamwork, and strong AI governance.
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