In order to transpose SHRD 2 into national legislation, Consob has recently amended:
(a) TRP Regulation, by introducing (i) a new definition of related party, (ii) a definition of directors involved in a TRP who are required to abstain from voting, and (iii) the duty to verify and the reserve of competence to resolve upon the administrative body for the approval of transactions of greater importance; and
(b) Issuers Regulation, with regard to both publication and contents of the report on the remuneration policies and the new parameter (i.e., turnover) related to the SME’s definition applicable to listed companies also requiring issuers to notify to the public any change involving SME’s status, within 5 trading days as from 31 December 2020.
You will find so much more in our “The Client Update” of December: https://carotenutolex.voxmail.it/p/jq7ztl/c-a3539480
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