The Council of Ministers gives the green light to the amendment of the Law of Societies of Capital

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The Council of Ministers has approved a draft law amending the law on capital companies and which seeks to encourage the long-term involvement of shareholders in listed companies.

As reported by the minister spokesman, Maria Jesus Montero , it is a transposing part of the eu directive for 2017, with the report of the Council of State and of that already it was reported to the Council of Ministers in the first round last march.

Your goal is to improve the good corporate governance of listed companies in the European Union and increase their chances of funding in the long term.

“This will contribute to sustain the economic growth , as well as the creation of employment and of value to all societies,” said Montero.

Among the measures she picks up, figure to the right of listed companies to identify their shareholders to facilitate their active participation and their involvement in the development of the society. Also agrees to the collective investment institutions (IIC) to make public its strategy of investment in listed companies, and regulates with more detail the content which has to include the remuneration policy of the members of the board of directors.

on the other hand, it increases the transparency of related-party transactions that could give rise to conflicts of interest and incorporate other measures to improve the competitiveness of the securities markets.

As the minister pointed out, the text has been worked on jointly between the Ministry of Economic Affairs and the Ministry of Justice and will have “important positive impact on the sustainability of the enterprise , the well-being of workers and the competitiveness of the markets”.