Full text of the paper:
Collected Papers of the Faculty of Law in Novi Sad, University in Novi Sad
2022, vol. LVI, No. 4, pp. 1145–1170
Language of the paper: English
Original scientific paper
udk: 347.725(439)
doi:10.5937/zrpfns56-38980
Authors:
Tekla Papp
University of Public Service, Budapest
Faculty of Public Governance and International Studies
papp.tekla@uni-nke.hu
ORCID ID: 0000-0001-8848-4078
János Dúl
University of Public Service, Budapest
Faculty of Public Governance and International Studies
dul.janos@uni-nke.hu
ORCID ID: 0000-0001-5445-687X
Abstract:
In this paper, after a systematic presentation of the theoretical background of the European Union regulation, we examine the Hungarian regulation and legal practice (using the websites of five listed Hungarian companies and the Budapest Stock Exchange Corporate Governance Recommendations) in connection with the identification of shareholders by the company, the verifiability of the exercise of shareholder’s rights, the remuneration policy and reporting of the public company limited by shares and the approval of legal transactions concluded with related party. We also focus on financial governance and certain viewpoints of product governance, with special attention to product approval process and the issue of greenwashing. We chose to emphasize these issues since one cannot find verbatim, translations of legal acts of European Union on these fields with respect to Hungarian legislation. The other reason is that there are available practical experiences in connection with them, therefore we reflect on different anomalies. Our aim is to highlight the need to transpose and implement a legal instrument with such wide-ranging implications as sustainable finance into a thoughtful and coherent set of rules that permeate the legal system.
Keywords:
environmental social governance, identification of shareholders, confirmation of voting, product governance, financial governance.