Central Bank of Russia intends to implement special rules for online shareholder meetings

MOSCOW. Sept 14 (Interfax) - The Central Bank of Russia plans to implement special rules for holding general shareholders meetings remotely, the regulator published in the draft of Russia's key financial market development guidelines in 2027-2029.

"Plans are in place to implement special rules regarding general shareholders meetings with remote participation," according to the document.

The Central Bank said that this is one of the measures to continue efforts to safeguard shareholder rights during general meetings. The regulator has not disclosed details regarding the potential changes.

The legal framework authorizing companies to hold annual general shareholders meetings online was finalized a year and a half ago, coinciding with the elimination of the option to hold them via absentee voting that had been permitted since 2020. Starting March 1, 2025, companies are permitted to organize online meetings either in conjunction with an in-person component, where some of the shareholders gather at a specific location, or without one.

The Central Bank has also outlined plans in a draft proposal to refine the rules governing meetings and absentee voting at general shareholders meetings. Among the potential changes, the regulator cites "expanding the list of shareholders eligible to participate in the general meeting to include non-voting shareholders, as well as broadening the scope and details of the information provided in preparation for a meeting's decision-making process."