The Shareholder Rights Directive II continues to reshape how asset managers across Europe approach stewardship disclosure. As we enter 2026, the expectations from regulators have only grown more granular — and the consequences of non-compliance more tangible.
What's changed this year? National regulators in France, Germany, and the Netherlands have begun issuing more prescriptive guidance on what constitutes 'adequate' engagement disclosure. The days of vague, narrative-style reporting are over. Regulators want structured data: how many engagements, on what themes, with what outcomes, and over what timeline.
For stewardship teams still relying on spreadsheets and email archives, this creates an enormous operational burden. The solution isn't more headcount — it's better infrastructure. Purpose-built stewardship platforms can automate evidence collection, map activities to regulatory requirements, and generate disclosure-ready reports in minutes rather than weeks.
Amine Gharby
Founder & CEO, engage insights. Former Glass Lewis Director. Writes about stewardship, regulation, and building better tools for asset managers.
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