As previously informed in our newsflash on 10 July 2019, articles 3a-3c of Directive (EU) 2017/828 regarding the encouragement of long-term shareholder engagement (SRD II) were implemented in the Hungarian Regulation in the Law LXVII of 2019 on Encouraging Long-Term Shareholder Engagement as of 9 July 2019.
KELER, the Hungarian CSD, informed the market that it plans to carry out the developments ensuring SRDII compliance independently from the framework of KELER Service Development Program (KSDP). Further details about the developments will be published by KELER by the end of September 2019.
Please see the original announcement on the below link:
https://english.keler.hu/kelernews/?id=962410
Impact on investors: Further information on the SRDII related market practices will be revealed by KELER in later stage. Investors will be informed on due course.