Legal tech and blockchain for corporate governance and shareholders

Lafarre, Anne; Elst, Christoph Van der

doi:10.4337/9781788111300.00015

Cited by 6 publications

(10 citation statements)

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“…Facing this devastating picture, we focus on PICSDPDM-compliant solutions, such as encryption [32,35] or visualization [42] plugins for Learning Management Systems (LMS) or even ethics principles in educational data analytics [33]. From this point of view, the legal system is far from regulating every technological issue, as its growth rate is far greater than the legal evolution, as in the Blockchain's case, an example of technology already used but far away from compliance of regulations such as General Data Protection Regulation (GDPR), as shown by the work of Amo et al [33] and of Lafarre and Van der Elst [43]. Despite these differences, the legal system is working towards standardization.…”

Section: Data-related Issuesmentioning

confidence: 99%

Educational Warehouse: Modular, Private and Secure Cloudable Architecture System for Educational Data Storage, Analysis and Access

et al. 2021

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Data in the educational context are becoming increasingly important in decision-making and teaching-learning processes. Similar to the industrial context, educational institutions are adopting data-processing technologies at all levels. To achieve representative results, the processes of extraction, transformation and uploading of educational data should be ubiquitous because, without useful data, either internal or external, it is difficult to perform a proper analysis and to obtain unbiased educational results. It should be noted that the source and type of data are heterogeneous and that the analytical processes can be so diverse that it opens up a practical problem of management and access to the data generated. At the same time, ensuring the privacy, identity, confidentiality and security of students and their data is a “sine qua non” condition for complying with the legal issues involved while achieving the required ethical premises. This work proposes a modular and scalable data system architecture that solves the complexity of data management and access. On the one hand, it allows educational institutions to collect any data generated in both the teaching-learning and management processes. On the other hand, it will enable external access to this data under appropriate privacy and security conditions.

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Section: Data-related Issuesmentioning

confidence: 99%

Educational Warehouse: Modular, Private and Secure Cloudable Architecture System for Educational Data Storage, Analysis and Access

et al. 2021

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“…For instance, in the UK, intermediaries in the Central Securities Depository (CSD) are considered the legal owners of the securities and are treated as shareholders under section 112(2) of the UK Companies Act 2006meaning that beneficial owners depend on their intermediaries to pass their shareholder rights. Likewise, under Delaware Law in the US, registered holders are considered shareholders -meaning that beneficial owners depend on their intermediaries to obtain the proxy to vote their shares (Lafarre and Van der Elst, 2020 [11]; UNIDROIT, 2017 [12]).…”

Section: Figure 2 Voting Chain Overviewmentioning

confidence: 99%

“…In France, Spain, Denmark, Sweden and Finland, for instance, intermediaries do not have any interest in the securities and the beneficial owner has legal, individual ownership over the securities located in the investor's securities account. Of note, investors that wish to hold shares anonymously can do so through a nominee (UNIDROIT, 2017 [12]; Lafarre and Van der Elst, 2020 [11]). As securities are traded cross-border, differences 2 To some extent, the use of standardised ISO 15022 format SWIFT messaging for the communication between the global custodians, sub-custodians and the voting service providers provides efficiencies and audit trails in parts of the voting chain (Norges Bank Investment Management, 2020 [10]).…”

Section: Figure 2 Voting Chain Overviewmentioning

confidence: 99%

“…In order to address these shortcomings related to suboptimal transparency, verification and identification in the voting process, DLT has been suggested as a means to "modernise shareholder voting and provide a more efficient platform for stockholders to exercise their franchise" 10 (Council of Institutional Investors, 2016 [31]). While much of the literature focuses on blockchain as a particular application of DLT 11 , this note uses the more general term "DLT", except when otherwise specified in particular cited references.…”

Section: Potential Application Of Dlt and Smart Contractsmentioning

confidence: 99%

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Using digital technologies to strengthen shareholder participation

2021

Going Digital Toolkit Notes

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“…May 11, 2016. See for another example Lafarre and Van der Elst (2018). 6 Re Appraisal of Dell Inc., Memorandum Opinion No.…”

Section: Introductionmentioning

confidence: 99%

Blockchain and Smart Contracting for the Shareholder Community

Elst

Lafarre

2018

SSRN Journal

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Current shareholder engagement systems face large classical inefficiencies. First, due to the large chains of intermediaries in the current securities models, transaction costs are high and shareholder votes and other information are not always correctly transmitted between shareholders and issuers. Recent cases including DNick Holding and T. Rowe Price show the 'absurdness' of the current systems. The Shareholder Rights Directive II addresses these problems and the Implementing Regulation already hints at modern technologies to increase the transparency and verifiability of shareholder engagement. Next, the current shareholder engagement system enables different opportunities for different types of shareholders, creating inequalities and hindering shareholder democracy. The solution to these substantial problems lies in a state-of-the-art technology: in this contribution we argue that blockchain technology can solve these current inefficiencies that shareholders and companies face. Using a permissioned blockchain, information can be stored in a verifiable and immutable way, with a consensus mechanism tailored to its purpose. The large amount of initiatives and prototypes of blockchain proxy voting and trading, including the legislative initiatives that were initiated in the past 2 years, show the merits of using this state-of-the-art technology. The Europe Union should incorporate this technology in its legislation, like the CSD regulation, for remaining technology-proof in this globalized market.

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Legal tech and blockchain for corporate governance and shareholders

Cited by 6 publications

References 0 publications

Educational Warehouse: Modular, Private and Secure Cloudable Architecture System for Educational Data Storage, Analysis and Access

Educational Warehouse: Modular, Private and Secure Cloudable Architecture System for Educational Data Storage, Analysis and Access

Using digital technologies to strengthen shareholder participation

Blockchain and Smart Contracting for the Shareholder Community

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