You mean the EU regulating their market, right? I think TFA is about shareholder voting rights. Two different things.
> Norway's $2 trillion wealth fund said on Sunday it would vote for a shareholder proposal at the upcoming Microsoft
annual general meeting requiring for a report on the risks of operating in countries with significant human rights concerns.
The Norway sovereign wealth fund is a large pension fund holding the profits of exploiting their natural oil reserves. It’s not related to the EU.
IMO it's not different, I've been at multiple companies shaken down by these kinds of groups. It goes like this:
1) A) Shareholder proposal bullied through via questionable means like buying votes from index-fund vote providers (or endowment/pension/wealth funds) that put other interests ahead of fiduciary interests.
(and/or) B) Weak but expensive-to-fight lawsuit
2) But don't worry, we have a consulting arm that will do the reports for you. If you pay them, we can guarantee it satisfies the shareholder proposal, and we will drop the lawsuit.
Sometimes human rights, sometimes ADA, sometimes environmental, the playbook is basically the same.
Number 2 would be quite damning regardless of anything else, so if there's a lead for that definitely let us know. Assuming it's just nr 1, though: I think I see what you mean but at that point, I guess.. don't hate the player, hate the game? Bit overboard to call it "extortion".
And, yeah, if you're a >$tn company going into the EU, or even just giving out shares, I agree: consult lawyers :) sound advice. In fact they probably did.
On its face, I don't see a problem. If the situation is as insidious as you describe, I definitely agree with you. But then that's the story. Not TFA.
> Norway's $2 trillion wealth fund said on Sunday it would vote for a shareholder proposal at the upcoming Microsoft annual general meeting requiring for a report on the risks of operating in countries with significant human rights concerns.
The Norway sovereign wealth fund is a large pension fund holding the profits of exploiting their natural oil reserves. It’s not related to the EU.