In Switzerland everyone participates in entrepreneurial life

The Federal Government has given the opportunity to the shareholders of joint stock companies to participate in the corporate decision-making process on an equal footing with the Board of Directors

At its meeting on March 23, 2021, the government adopted a statement in response to questions raised during the first reading of the amendment to the Law on Persons and Companies and the Law on Banks.

The new provisions implement an EU directive requiring long-term shareholder participation in companies listed in the EEA.

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What is the purpose of this Directive?

The EU Directive aims to create an attractive environment for shareholders and to promote their long-term participation in listed companies. The implementation of the Directive will increase transparency and strengthen the influence of shareholders on certain company operations.

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The opinion responds to questions posed in Parliament at the first reading of the bill in November 2020. These concerned the definition of intermediaries, banking secrecy in relation to the disclosure of the identity of shareholders, and the applicability of the new provisions to proxy advisors domiciled in a third country.