The new EU rules, which will have to be transposed into national law, promote more balanced representation on the boards of listed companies in all Member States.
The directive lays down that at least 40% of directors of listed companies should be members of the underrepresented sex.
Boards must take extreme care when informing about the effect of climate change on corporations’ transactions.
The Ministry of Economy and Business has announced commencement of the comment period for the Preliminary Bill amending the revised Capital Companies Law, approved by Legislative Royal Decree 1/2010, of July 2, 2010 and other financial legislation, to adapt them 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.
On 17 October 2018, the CNMV published its reports on the Annual Corporate Governance and Directors Remuneration Reports of the listed companies corresponding to the fiscal year 2017.