EUROPE - The EU directive to enhance shareholders' rights is due to be agreed early next year, said Pierre Delsaux, director general of internal market and services at the European Commission.
Speaking at the annual Institutional Shareholder Services corporate governance conference, Delsaux said the directive would address shareholder concerns about share blocking, and also set a minimum 21 day period for companies to provide shareholders with information ahead of meetings.
This could lead to greater transparency and help institutional investors - particularly pension funds - exert their shareholder powers, said Delsaux.
At the beginning of this year, the directive came under fire from the corporate governance forum Eumedion. It claimed the stance on cross border voting rights ws not progressive enough.
The People's Pension, Atlas Master Trust and The Cheviot Trust have been granted authorisation from The Pensions Regulator (TPR), taking the total number of authorised master trusts to 18.
Pension schemes have been warned they may now face a more challenging legal test if they wish to fix drafting errors.
The Greene King Pension Scheme has appointed XPS Pensions as its actuarial and investment adviser following a competitive tender process.
Professional Pensions has compiled a list charting the progress of master trust authorisation. View our list in full here...