dimanche, novembre 13, 2011

ESMA et empty voting

Dans un article précédent du blogue j'ai évoqué les initiatives de l'ESMA en matière de notation de crédit. Restons quelques minutes de plus sur l'ESMA. Au travers d'un docmuent consultatif, cette dernière cherche à se renseigner sur cette pratique bien connue - et qui soulève aujourd'hui bien des questions - : l'empty voting.

In recent years there has been discussion on possible regulatory reaction to the decoupling of voting rights. In this context, issues and potential problems relating to empty voting (i.e. having voting rights attached to shares without corresponding economic exposure) have also been raised. Currently there are no specific rules relating to empty voting at the European level. Two Member States, however, have taken or are planning to take steps to address empty voting. ESMA has decided to issue this call for evidence in order to collect information and evidence on the extent to which empty voting practices exist in practice and the effects of such practices. Responses to this call for evidence will help ESMA to assess whether there is need for further ESMA work with regard to empty voting.

Lire le Call for evidence, ici.

Pour information, je rappelle que l'ESMA est l'autorité européenne de surveillance chargée de contrôler les marchés européens et de proposer des normes de règlementation communautaires : commission, parlement européen et conseil.
A la prochaine ...

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