Government proposals allowing companies to ask banks to provide details about their shareholders and the size of their stake are a serious threat to privacy, says shareholders lobby group VEB.
It is just nonsense to say the move is necessary to improve communication with shareholders, the VEB said in a statement, pointing to all the methods currently available, such as websites, press releases and annual reports.
The VEB said it suspected companies might use their right to information to try to manipulate shareholders ahead of AGMs.
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