SRD II approval in Czech Republic

UniCredit Bank Czech Republic and Slovakia,a.s.
The new EU Directive of SRD II has been approved by all official bodies in the Czech Republic.
Thu, 15/08/2019

Please be advised that the local process of transposition and harmonization of the updated Shareholders Rights Directive (SDR2) that refers to Directive (EU) 2017/828 of the European Parliament and of the Council of 17 May 2017 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement, aiming to contribute to the long term sustainability of the EU companies that enhances the efficiency of the chain of intermediaries and encourages long-term shareholder engagement into the Czech Republic legal system has been concluded by the President signing the governmental Act proposal on 12/08/2019. The new Act will now need to be published in the Collection of Laws and will become effective from the first day of the second calendar month following the day of actual publication i.e. expected on 01/10/2019. The actual development plans and processes of this Act implementation is yet to be announced by respective Czech Republic CSDs (mainly CDCP a.s. and Czech National Bank).