BME develops a new service to identify ultimate shareholders

Madrid, Apr 28 (EFE) .- Bolsas y Mercados Españoles (BME) will launch in June a new service for identifying shareholders and ultimate beneficiaries to make it easier for companies to meet the real owners of their shares when ownership is exercised through intermediate companies.

Specifically, BME will offer two services through Iberclear, its central securities depository, as of June 7: one for the identification of shareholders and ultimate beneficiaries, and another for the specific identification of ultimate beneficiaries.

These tools, which complement the current shareholder identification service, have been developed after the recent approval of Law 5/2021, which has modified the Capital Companies Law and other financial regulations to promote the long-term involvement of shareholders. in listed companies. The new law transposes the European Directive SRD2 (Shareholders’ Rights Directive 2).

Iberclear will send the requests for information on the ultimate shareholders to its participating entities, which will forward them to the intermediaries.

The intermediaries may communicate to Iberclear the information on the identity of the ultimate beneficiaries through the channels enabled, including the new electronic headquarters of the depositary.

(c) EFE Agency