DOCSLIB.ORG

Annual Report 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2019 ANNUAL REPORT 20 19 EuropeanIssuersServing 2019 Annual EU quoted Report companies | 1 Contents FOREWORD BY THE CHAIRMAN ................................................................................................................... 4 MESSAGE FROM THE SECRETARY GENERAL ................................................................................................. 5 Our Mission ............................................................................................................................................. 6 Our Strengths .......................................................................................................................................... 6 Our Long-Term Vision .............................................................................................................................. 6 PART I: ACTIVITY REPORT ............................................................................................................................. 7 Reports from Committees ........................................................................................................................ 8 Policy Committee ............................................................................................................................. 8 Smaller Issuers Committee ............................................................................................................... 9 EuropeanIssuers Regulatory Tracker ........................................................................................................ 9 2019 Policy Priorities...............................................................................................................................10 I. High Priorities.................................................................................................................................10 Sustainable Finance ........................................................................................................................ 10 Sustainable Finance Package .......................................................................................................... 10 Capital Markets Union .................................................................................................................... 16 EMIR - European Market Infrastructure Regulation Review ............................................................ 17 Shareholder Rights Directive .......................................................................................................... 19 Better regulatory environment for small & mid-caps ...................................................................... 21 Corporate Reporting ...................................................................................................................... 25 Public Country by Country Reporting .............................................................................................. 29 Prospectus Regulation .................................................................................................................... 30 Company Law ................................................................................................................................. 32 European Single Electronic Format ................................................................................................. 34 Market Abuse Regulation/Directive ................................................................................................ 36 Financial Transaction Tax (FTT) ....................................................................................................... 38 II. Other Dossiers................................................................................................................................39 PRIIPs & Corporate Bonds .............................................................................................................. 39 U.S. Class Action Lawsuits ............................................................................................................... 40 PART 2: ASSOCIATION REPORT....................................................................................................................41 I. Communication and Marketing ......................................................................................................41 1) Communication .......................................................................................................................... 41 2) Events ........................................................................................................................................ 47 II. Membership .......................................................................................................................................49 Member Services ........................................................................................................................... 51 EuropeanIssuers 2019 Annual Report | 2 PART 3: General Matters.............................................................................................................................52 Annual General Meeting .........................................................................................................................52 Financial Model ......................................................................................................................................52 Business Model .......................................................................................................................................52 Financial Statements 2019 ......................................................................................................................53 Income Statement .......................................................................................................................... 53 Statement of Financial Position ...................................................................................................... 53 Governance .................................................................................................................................... 53 List of Abbreviations – Annual Report 2019.................................................................................................62 EuropeanIssuers 2019 Annual Report | 3 FOREWORD BY THE CHAIRMAN 2019 has been an eventful year on the European arena from the negotiations leading towards Brexit to the new elections of the European Institutions. Despite the Brexit impact on the EU still being uncertain, the President of the European Commission has encouraged the Union to bring forward “a fresh start for Europe”1, including improving competitiveness and sustainability in the european market. Beside the fact that sustainable finance is at the top of everyone’s agenda, the reviews of the Market Abuse Regulation, the Non-Financial Reporting Directive and MiFID II will also be high priorities for EuropeanIssuers. Luc Vansteenkiste I have also taken part in the discussion of the Capital Market Union High-Level Forum on the Sub group on an “Ecosystem for capital raising with special focus on SMEs” as one of the few representatives of corporates and I am striving to propose recommendations to ensure that businesses can access capital markets across the EU on equal terms and irrespective of their geographical location. I invite you to look at the policy section of this report for an overview of our policy work, successes and challenges. In 2020, we will pursue our efforts in increasing corporates’ access to finance, reducing regulatory burdens and costs that impede growth and continuing to raise the visibility of EuropeanIssuers vis-à- vis the European Institutions and other major industry stakeholders. I also chaired the second edition of the “EuropeanIssuers Advisory Council” on 7 June 2019. We discussed investment trends in the EU financial landscape to strengthen the dialogue between senior executive representatives of business and high-level politicians across Europe. Finally, I would like to express my deep appreciation for EuropeanIssuers’ member’s valuable contribution and dedication in building a better regulatory environment that helps companies flourish, innovate and create jobs across the EU and beyond. It is only by joining our forces and acting together that we can make change and contribute to building a better Europe that delivers! 1Von der Leyen, U., Speech in the European Parliament Plenary on the occasion of the presentation of her College of commissioners and their programme,2019. EuropeanIssuers 2019 Annual Report | 4 MESSAGE FROM THE SECRETARY GENERAL 2019 has ended, and we now open up a new chapter of opportunities and challenges for the next decade. On behalf of EuropeanIssuers’ Board members, we sincerely thank you for your support, loyalty and trust in our association throughout 2019. EuropeanIssuers’ team has been engaged and committed to improving the EU regulatory framework for listed companies through its advocacy work. Working closely with our members, we actively engage with EU institutions to discuss how to improve new proposed rules. We have overcome many challenges and can show achievements in various European regulatory files such as the Small and Medium Enterprise Growth Markets Regulation, Guidelines Corporate Reporting, Sustainable Finance, Market Abuse Regulation, Public Country-by-Country Reporting, and the Shareholders Rights Directive: Florence Bindelle Market Standards Practices & Remuneration. Earlier in the year, we published our vision
Load more

Recommended publications
  • Toshiba Corp. V. Automotive Industries Pension Trust Fund (U.S. Supreme
    No. ___ IN THE Supreme Court of the United States ———— TOSHIBA CORPORATION, Petitioner, v. AUTOMOTIVE INDUSTRIES PENSION TRUST FUND; NEW ENGLAND TEAMSTERS & TRUCKING INDUSTRY PENSION FUND, Respondents. ———— On Petition for a Writ of Certiorari to the United States Court of Appeals for the Ninth Circuit ———— APPENDIX TO PETITION FOR A WRIT OF CERTIORARI ———— CHRISTOPHER M. CURRAN Counsel of Record NICOLE ERB ERIC GRANNON JAIME M. CROWE REUBEN J. SEQUEIRA WHITE & CASE LLP 701 Thirteenth Street, N.W. Washington, DC 20005 (202) 626-3600 [email protected] Counsel for Petitioner October 15, 2018 WILSON-EPES PRINTING CO., INC. – (202) 789-0096 – WASHINGTON, D. C. 20002 TABLE OF CONTENTS Page APPENDICES Appendix A: Court of Appeals Opinion Opinion, Stoyas v. Toshiba Corp., 896 F.3d 933 (9th Cir. 2018) (No. 16-56058) .............. 1a Appendix B: Order Staying Mandate Order, Stoyas v. Toshiba Corp., No. 16- 56058, 2018 U.S. App. LEXIS 22084 (9th Cir. Aug. 8, 2018) ........................................ 38a Appendix C: District Court Opinion Order re: Defendant’s Motion to Dismiss & Plaintiffs’ Motion to Strike Wada Declaration, Stoyas v. Toshiba Corp., 191 F. Supp. 3d 1080 (C.D. Cal. 2016) (No. 2:15-cv-04194-DDP-JC) ...................................... 40a Appendix D: Amended Complaint and Selected Exhibit Amended & Consolidated Class Action Complaint for Violation of the Securities Laws of the United States and Japan, Stoyas v. Toshiba Corp., 191 F. Supp. 3d 1080 (C.D. Cal. 2016) (No. 2:15-cv-04194- DDP-JC), ECF No. 34 ......................................... 78a ii TABLE OF CONTENTS - CONTINUED Page Exhibit 8 to Amended & Consolidated Class Action Complaint, Receipt of Investigation Report from Executive Liability Investigation Committee, Filing of Action for Compensatory Damages Against Former Company Executives, an Action Filed in the U.S., and Other Matters, Stoyas v.
    [Show full text]
  • Read More on the Mifid Adjustments)
    CONTENTS FOREWORD BY THE CHAIRMAN ............................................................................................................. 4 MESSAGE FROM THE SECRETARY GENERAL ........................................................................................... 5 Our Mission ......................................................................................................................................... 6 Our Strengths ...................................................................................................................................... 6 Our Long-Term Vision ......................................................................................................................... 6 PART I: ACTIVITY REPORT ........................................................................................................................ 7 Reports from Committees .................................................................................................................. 8 Policy Committee ....................................................................................................................... 8 Smaller Issuers Committee ........................................................................................................ 9 2018 Policy Priorities......................................................................................................................... 10 I. High Priorities ..........................................................................................................................
    [Show full text]
  • FINANCIALSERVICES CONFERENCE 7 FEBRUARY 2017 / Brussels
    Hosted by The 15th Annual European FINANCIALSERVICES CONFERENCE 7 FEBRUARY 2017 / Brussels Contact - Charlene Selmer T . +44 (0)2920 783 071 / [email protected] www.forum-europe.com www.fsconference.eu The 15th Annual European FINANCIALSERVICES CONFERENCE 7 FEBRUARY 2017 / Brussels About the European Financial Services Conference Now in its 15th consecutive year, the European Financial Services Conference is held annually and is the major event in the Brussels calendar on financial services. Each year, the event brings together more than 400 senior international participants to debate issues affecting European and global financial markets, and over the years we have welcomed as speakers numerous Ministers, company CEOs, national bankers and regulators both from within the EU and around the world. Discussions at the 2017 edition will focus on strengthening the EU financial sector’s resilience; seamless capital markets and the current international outlook. Sponsorship of the European Financial Services Conference Annual events such as this are not simply stand alone, one-off marketing opportunities. Over time, they develop a brand of their own and a reputation for quality which adds value for all organisations that are associated with it. The European Financial Services Conference offers sponsoring organisations the opportunity to become involved on a regular basis in a pivotal and talked about industry event. There are a number of different ways in which you will benefit from taking out a sponsorship package at the 15th Annual European Financial Services Conference. Simply having your name and brand associated with a high-level event such as this can be extremely valuable and it provides a great opportunity to raise your profile within the industry and with high level policy and decision makers.
    [Show full text]
  • Green Deals in a Time of Pandemics the FUTURE WILL BE CONTESTED NOW
    Green deals in a time of pandemics of in a time deals Green Green deals in a time of pandemics THE FUTURE WILL BE CONTESTED NOW The pandemic has accelerated the arrival of a new phase in the crisis, which never completely disappeared and is interrelated with and aggravated by other 21st century global challenges. The economic recovery is strengthening the premises of the Green New Deal in Europe. The dangers of supporting a growth model by Alfons Pérez Alfons arguing for absolute decoupling, the impacts of increasing extraction to obtain the critical raw materials required by the green, Green deals digital transition and the risks of over-indebtedness leading to the reactivation of austerity measures are more present than ever. In in a time of pandemics this context, the large corporations are aligning themselves with green policies and presenting themselves as key actors to capture THE FUTURE WILL BE CONTESTED NOW the lion’s share of the public resources available. This book analyses this situation and aims to recognise the work of Alfons Pérez many collectives and movements which have created green deals as alternatives to the official line and do not shy away from structural, systemic and radical criticism of capitalism, patriarchy and colonialism. Green deals in a time of pandemics is an invitation to come together in these difficult times, united by the conviction that, in this key decade, we are not prepared to be mere spectators of the future to come - which will be contested now. 4 Title: Green deals in a time of pandemics. The
    [Show full text]
  • Comment Letter
    ! aisbl - ivzw Rue Belliard 4-6 1 Tel : +32 (012 289 25 70 infoQeuropeanissuers.eu 8-1040 BRUSSELS Fax : +32 (012 512 15 60 1 www.europeanissuers.eu U.S. Securities and Exchange Commission To the att. of Ms. Nancv M. Morris Secretary 100 F Street, NE Washington, D.C. 20549-9303 USA Brussels, 25 April 2008 Re: Comments on Proposed Amendments to Exemption from Registration under Section 12(g) of the Securities Exchange Act of 1934for Foreign Private lssuers File No. 57-04-08 Dear Ms. Morris, We are submitting this letter in response to the request of the Securities and Exchange Commission (the "Commission") for comments on the Commission's proposal to amend Rule 12g3-2(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The proposal is discussed in Release No. 34-57350; International Series Release No. 1307; File No. 57-04-08 (the "Release"). Europeanlssuers is a pan European organisation that represents the vast majority of publicly quoted companies in Europe. Europeanlssuers was formed when EALIC, the European Association of Listed Companies, and UNIQUE, the Union of lssuers Quoted in Europe, combined their organisations in early 2008. Its members are national associations and companies from the following countries: Austria, Belgium, Bulgaria, Cyprus, Finland, France, Germany, Greece, Italy, the Netherlands, Poland, Portugal, Spain, Switzerland and the United Kingdom. These markets count some 9,200 listed companies with a combined market value of some f 8,500 billion. Europeanlssuers is an International Non Profit Association under Belgian law with registered seat and permanent secretariat in Brussels.
    [Show full text]
  • PRESS RELEASE 10 March 2008 Europeanissuers: the First Pan European Issuers Association Issuer-Shareholder Relation Priority
    PRESS RELEASE 10 March 2008 EuropeanIssuers: The First Pan European Issuers Association Issuer-shareholder relation priority number one A general assembly of leading listed companies and national associations, meeting in Brussels on 6 March, approved the creation of “European Issuers ”, the first pan European organisation to promote the interests of issuing companies. European Issuers is the result of the decision, taken just weeks ago, by EALIC, the European Association of Listed Companies, and UNIQUE, the Union of Quoted Companies, to join forces. European Issuers represents the vast majority of publicly quoted companies in Europe. Its members are national associations and companies from the following countries: Austria, Belgium, Bulgaria, Cyprus, Finland, France, Germany, Greece, Italy, the Netherlands, Poland, Portugal, Spain, Switzerland and the United Kingdom. These markets count some 9,200 listed companies with a combined market value of some € 8,500 billion. The members of European Issuers come from various sectors including the automotive business, nutrition, energy, publishing, health care, luxury goods, construction, financial services and many more. What brings them together in European Issuers is that they are all owned by the public. Jacques Schraven, chairman of European Issuers , says: “ The fact that these companies attract money from the market – as their securities are traded on stock exchanges and alternative markets across Europe - makes them subject to an impressive set of complex and stringent rules and regulations. Through European Issuers listed companies can engage in direct discussions with the decision makers at European, trans-Atlantic and global level. ” Typical areas of interest include shareholder rights, corporate governance, clearing and settlement as well as financial reporting and auditing.
    [Show full text]
  • Sponsorship Brochure
    Hosted by Lunch Host The 14th Annual European 24 FINANCIAL MAY SERVICES 2016 ING Auditorium Conference Brussels Contact - Rose Maloney T . +44 (0)2920 783 070 / [email protected] www.forum-europe.com www.fsconference.eu The 14th Annual European 24 FINANCIAL MAY SERVICES 2016 ING Auditorium Conference Brussels About the European Financial Services Conference Now in its 14th consecutive year, The European Financial Services Conference is held annually and is the major event in the Brussels calendar on financial services. Each year, the event brings together more than 400 senior international participants to debate issues affecting European and global financial markets, and over the years we have welcomed as speakers numerous Ministers, company CEOs, national bankers and regulators both from within the EU and around the world. Discussions at the 2016 edition will focus on the EU and the global environment; assessing the strengths and weaknesses of regulatory reform to date and the strategic goals and tactical realities of the EU’s Capital Markets Union. Sponsorship of the European Financial Services Conference Annual events such as this are not simply stand alone, one-off marketing opportunities. Over time, they develop a brand of their own and a reputation for quality which adds value for all organisations that are associated with it. The European Financial Services Conference offers sponsoring organisations the opportunity to become involved on a regular basis in a pivotal and talked about industry event. There are a number of different ways in which you will benefit from taking out a sponsorship package at the 14th Annual European Financial Services Conference.
    [Show full text]