Jurisdiction(s):
United Kingdom

Key definition

Requirements definition

What does Requirements mean? In Development Consent Order (DCO) practice, Requirements are the binding conditions that regulate how, when and on what detailed terms the authorised development may proceed. They typically oblige the undertaker to submit and secure approval of detailed design, construction, and environmental management documents (for example, CEMP, traffic, landscape, contamination and archaeology plans) before commencement, phased works or operation. The term is used in legislation: section 120 of the Planning Act 2008 permits a DCO to impose “requirements”. In most DCOs they are set out in a schedule (often Schedule 2) and function similarly to planning conditions under the Town and Country...

Shareholder Rights Directive II in the UK: legislative and FCA implementation, Stewardship Code 2026 updates, and disclosure and engagement obligations for asset managers and institutional investors

Published by a LexisNexis Financial Services expert

Practice notes

This Practice Note sets out a summary of the Shareholder Rights Directive II (SRD II) (Directive (EU) 2017/828 amending Directive 2007/36/EC) and its effect in the UK, with a particular emphasis on consequences for asset managers and institutional investors across the market. SRD II seeks to encourage robust stewardship and long-term investment choices, introducing requirements in areas such as transparency of engagement policies and investment approaches across the institutional investment community, and mandating approval and disclosure of related-party transactions.

Scope and overview of SRD II

The original Shareholder Rights Directive (SRD I) took effect in 2009 to bolster shareholder rights by setting minimum standards for exercising voting rights attached to shares in EU listed companies. SRD I was extensively revised by SRD II, which applied from 10 June 2019. SRD II places a range of rights and duties on listed companies, institutional investors, asset managers, proxy advisers and intermediaries. Investors and asset managers gain greater influence over executive pay and related party dealings, while facing tighter transparency obligations. These include:

public disclosure of engagement policy, including voting behaviour, and how it has been carried out
reporting to institutional investors on how the investment strategy and its implementation relates to the...

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Web page updated on 21/05/2026

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