Eumedion rejects the idea that European Commission should be able to unilaterally amend IFRS reporting standards
For decades the European Union (EU) has been a driving force behind the ambition of a single set of high quality globally accepted financial reporting standards (IFRS). By now IFRS is used in 144 jurisdictions for all or most of the listed entities; with the United States being the most notable exception. There are only a few examples where individual jurisdictions created deviations from individual IFRS. For investors, the existing and improving global comparability of IFRS reporting entities poses a tremendous benefit. Eumedion calls on the EU to continue to foster the goal of global comparability of IFRS in its response to a consultation on a possible revision of European reporting framework.
Shareholders of Dutch listed companies are turning up the heat on executive pay policies. Where in the past shareholders primarily assessed whether the new policy was aligned with the ‘pay for performance’ principle, they are now also looking critically at the impact of the new policy on the absolute levels of executive remuneration.
Pension funds, insurers and asset managers have developed the first Dutch Stewardship Code (hereafter: Stewardship Code). In doing so, they emphasise the increasing importance of engaged and responsible share-ownership and the role that institutional investors play in promoting long-term value creation at Dutch listed companies. In addition, the principles of the Stewardship Code offer pension funds, insurers and asset managers the opportunity to inform their beneficiaries and clients about how they have used their shareholder rights.
Eumedion supports MSCI's proposals to proportionate adjust the index weight of a company that deviate from the principle that the shareholders' voting power should be proportionate to their economic interest. Today, Eumedion submitted a comment letter to MSCI on the index provider’s consultation regarding the treatment of unequal voting structuresin the MSCI equity indexes. MSCI proposed in January to adjust the weights of so-called dual-class shares to reflect both their free float and their company level listed voting power.