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I commented last month on an article in Investors Chronicle by Mary McDougall on the subject of platform transfers, and how they are inordinately slow. Despite past efforts by the FCA, the situation does not seem to be getting any better. My latest transfer, which was commenced on the 12th of January, is still not complete. The shareholdings have recently been transferred to the selected new platform but not the substantial cash holding in the portfolio.
But according to the latest article ...
by Cliff Weight, Director ShareSoc. These are my personal views and not necessarily those of ShareSoc.
ShareSoc has introduced a new added value service, for Full Members only, providing background information on leading companies and AGM vote guidance. Initially we are piloting this for FTSE30 companies, plus a few others in the FTSE100.
You can access all the information that ShareSoc has written on a company by clicking on the Research and Company Research buttons in the header on any ShareSoc webpage. This ...
ShareSoc News Item by Cliff Weight, Director
At the 9 March 2021 Woodford webinar, there were over 100 questions from the 947 people registered. Many were answered on the night. Leigh Day have now produced answers to the unanswered questions which are conveniently grouped into 7 different themes.
Mello Woodford webinar - questions and Leigh Day responses final (07-04-2021)
In February and March 2021, we worked on:
1. Woodford Campaign: Leigh Day now have their funding and insurance in place and have submitted their letter before action (LBA). 947 people registered for the joint ShareSoc/Mello event on 9th March which went well with much very positive feedback.
2. Sirius Minerals Shareholder Group: We continue to review the evidence and hope to move to the next stage soon.
3. Voting Guidance and Shareholder engagement: We continue to test our new ideas with a pilot ...
The Investors Chronicle have published on 30 March 2021 a useful table comparing the 4 ongoing Woodford Claims:
ShareSoc endorsed the Leigh Day Claim, in November 2020 on the basis of information available at that time. The table highlights that the Leigh Day claim and Harcus Parker claim are both against Link, both have funding and insurance, and similar numbers of claimants, but Leigh Day is only charging 30% versus 42% for Harcus Parker.
RGL is only part funded and says on its ...
ShareSoc News Item by Cliff Weight, Director
117 people registered for our 23 March 2021 webinar and at least 94 attended, much higher than the 26 the previous year at the East India Club. The organisers received much positive feedback, for which they are grateful, and indicates that similar future events should be planned. At the webinar:
Cliff Weight did a brief introduction of why the VCT Investors Group was formed and why it exists – to lobby on poor performance, poor ...
Following publication of the Government’s consultation Restoring trust in audit and corporate governance the FRC will be hosting a series of webinars and roundtables to provide further insight on key aspects of the consultation and to provide interested stakeholders with an opportunity to share their views and comment on the government’s proposals.
Further details about how to participate in the FRC’s extensive engagement programme is available here. The FRC have organised a series of webinars for those interested in the Government's latest consultation ...
ShareSoc News Item, by Cliff Weight, Director.
Proposal to adopt ISQM (UK) 1 Quality Management For Firms That Perform Audits Or Reviews Of Financial Statements, Or Other Assurance Or Related Services Engagements, ISQM (UK) 2 Engagement Quality Reviews, and revise ISA (UK) 220 (Revised November 2019) Quality Control For An Audit Of Financial Statements
ShareSoc and UKSA made a joint response to this FRC consultation. The key points we made were:
We believe most shareholders look to audits of annual financial statements to underpin their confidence and trust ...
SEC still has a 20% discount (258p share price versus 312p NAV) and the Directors own pitifully few shares so have little skin in the game and no incentive to sort this out.
I have registered my protest vote, via interactive investors' excellent voting platform (NOTE TO HARGREAVES LANSDOWN - you really ought to provide a better voting service to your customers). I think my vote is a protest vote as it looks likely the directors will win. Other shareholders should consider ...