13 May 2020
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.
ALFI, Association of the Luxembourg Fund Industry