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The Member State competent to regulate matters covered in this Directive shall be the Member State in which the company has its registered office, and references to the “applicable law” are references to the law of that Member State. For the purpose of application of Chapter Ib, the competent Member State shall be defined as follows: (a) for institutional investors and asset managers, the home Member State as defined in any applicable sector-specific Union legislative act; (b) for proxy advisors, the Member State in which the proxy advisor has its registered office, or, where the proxy advisor does not have its registered office in a Member State, the Member State in which the proxy advisor has its head office, or, where the proxy advisor has neither its registered office nor its head office in a Member State, the Member State in which the proxy advisor has an establishment.’;

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Source: EUR-Lex CELLAR · retrieved 2026-08-27