Chains of Intermediaries in Shareholding in Listed Companies: a comparative legal analysis of the corporate law issues arising from intermediation and potential remedies.

Korte beschrijving

From a corporate law perspective, chains of intermediaries (which include banks, brokers, (global) custodians, and central securities depositories) raise several theoretical and practical issues in the relationship between listed companies and their shareholders. Such issues include difficulties incurred by end-investors in exercising voting rights at annual general meetings and in pursuing legal claims. Through comparative legal analysis, this dissertation identifies these issues and evaluates several solutions to these problems based on their ability to protect the position of end-investors in listed companies. These solutions include the potential use of distributed ledger technology (DLT), a ‘register platform’ as an enhanced direct holding method in common law systems, and earmarking or tracing shares.