11 May 2020 | Press Releases
Benefitting from the Grand Ducal regulation of 20 March 2020 on how organisations can hold statutory meetings, ALFI is leading the way in digital transformation and organising its upcoming general meetings entirely in virtual form, with the help of Governance.com’s meetings solution.
ALFI AGM to be held digitally
As the Covid-19 pandemic has accelerated the digital transformation in many organisations, the existing high governance standards must be upheld when operating online. ALFI maintains its principles and best practices in the current remote work set-up, including the virtual AGM, by handling invitations and meeting documents via a secure platform and ensuring that an audit trail of votes and decisions taken will be available.
“The remote work situation has confirmed how digital innovation is key to business continuity. For ALFI in particular, the annual general meeting is part of our identity, and we are proud to host it remotely, connecting with our members in a secure way while complying with the Grand Ducal regulation”, said ALFI Director General Camille Thommes.
Software safeguards documents and decisions
With some 1,500 members and thus potential AGM participants, it is crucial for ALFI to safeguard all meeting documentation from unauthorised parties. Governance.com allows ALFI members to properly exercise their voting rights and to have their questions asked and answered safely.
Georges Bock, Chief Strategist with Governance.com, explained: “Members, directors and shareholders can join meetings from wherever they are, at any given time, and have a voice. Because the software is so convenient, it can also help to maximise attendance, making the proxy process almost unnecessary.”
The Covid-19 pandemic has catalysed the search for new forms of holding statutory meetings. It may have also paved the way for additional legislation allowing stakeholders better access to these meetings in the near future.
ENDS
The Association of the Luxembourg Fund Industry (ALFI) represents the face and voice of the Luxembourg asset management and investment fund community. The Association is committed to the development of the Luxembourg fund industry by striving to create new business opportunities, and through the exchange of information and knowledge.
Created in 1988, the Association today represents over 1,500 Luxembourg-domiciled investment funds, asset management companies and a wide range of businesses that serve the sector. These include depositary banks, fund administrators, transfer agents, distributors, legal firms, consultants, tax advisory firms, auditors and accountants, specialist IT and communication companies. Luxembourg is the largest fund domicile in Europe and a worldwide leader in cross-border distribution of funds. Luxembourg-domiciled investment funds are distributed in more than 70 countries around the world. For further information, do not hesitate to consult www.alfi.lu.
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About Governance.com meetings:
After being awarded Luxembourg’s Financial Software provider of the Year 2020, Governance.com continue to innovate and create solutions to help organisations with their business continuity during the current outbreak and uncertain times ahead. Their digital meeting solution enables companies to run efficient and best-practice board, committee or shareholder meetings whilst in compliance with rules and regulations.
Governance.com allows you to create and share meeting packs, invitations, agendas and documents on a timely basis. The trusted software ensures only authorised persons participate and vote in the virtual meeting. Minutes and resolution are made online and decisions and the basis on which they were made are recorded.
Connect anywhere, anytime and on any device.