[Translate to English:] Positionspapiere
Voting advisor ISS must take into account new legislation on virtual general meeting
Deutsches Aktieninstitut requests that the voting advisor ISS adjust its voting recommendations to take appropriate account of the new German legislation on virtual general meetings. The legislator has created a virtual general meeting equivalent to the presence general meeting. With a view to the equivalence of the two formats, the legislator removed the originally envisaged restriction on the authorization of the Articles of Association during the legislative process.
Under no circumstances ISS should not oppose provision of the Articles of Association or limit it to emergency situations. Other voting guidelines, such as Vanguard's, have already been amended to allow bylaw provisions on virtual general meetings
Sven E. Hemeling
Head of Primary Market Law
Tel.+49 69 92915-27