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ShareSoc Blog

This blog gives you the latest topical news plus some informal comments on them from ShareSoc’s directors and other contributors. These are the personal comments of the authors and not necessarily the considered views of ShareSoc. The writers may hold shares in the companies mentioned. You can add your own comments on the blog posts, but note that ShareSoc reserves the right to remove or edit comments where they are inappropriate or defamatory.

There is more news given in the News page of our web site and more analysis of news is provided in our monthly newsletter for members – see the Newsletters page.

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Departures – AA and Blur

Yesterday was the start of many people’s holidays. But two company chief executives are going to be taking longer holidays than they expected. The Executive Chairman of the AA Plc (AA.) Bob Mackenzie has gone. The announcement from the company said he “has been removed by the board….for gross misconduct, with immediate effect”. According to press reports, this arose from a fracas in a bar, although there is also a suggestion that he may be suffering from a mental illness. Some newspapers ...

SAUDI ARAMCO – The LSE Shows Its True Colours

The debate over the proposed listing of a small proportion (5%) of Saudi Aramco on the LSE continues apace. The recent flurry of news on this topic highlights the...

RBS Shareholder Event on 31 July

I am looking forward to the RBS Shareholder Event on Monday 31 July in London. RBS had dropped regular shareholder briefings, but, following our shareholder committee campaign, have now reinstated...

The VCT Investors Group Campaign

A university academic has just joined the VCT Investors Group and he emailed me with this interesting story and commentary, which other readers might find of interest…. As you...

Property Companies and TR Property AGM

Yesterday I attended the Annual General Meeting of TR Property Investment Trust (TRY). I have held shares in this company for a long time, and it’s always useful to attend their AGM as you get a useful update on trends in the property market from the fund manager (Marcus Phayre-Mudge of late). As he mentioned, the fact that they hold property directly, as well as holding shares in property companies gives them a unique insight into the state of the market. Apart ...

AIM Rules Review

The London Stock Exchange have published a document entitled “AIM Rules Review”. ShareSoc, including me personally, have criticised the LSE in the past for poor regulation of the AIM market. Many investors view it as a casino because of the numerous problems of fraud, poor disclosures, many delistings or simple bankruptcies in AIM companies. See the ShareSoc campaign page here for more information: https://www.sharesoc.org/campaigns/campaign-improve-aim-market/  As you can see we made a number of recommendations on how to improve the AIM market, and ...

TD Direct & the FCA – Update

There have been further developments since my original blog post, on the topic of changes to TD Direct's client monies policy, which cause me to re-examine the issue and its implications. Firstly, I am pleased that Interactive Investor, TD Direct's new owner, have responded to my post, as follows: Interactive Investor’s primary responsibility is the security of a client’s data, cash and assets. Current FCA rules state that client money must not be placed out on unbreakable deposits of more than 30 days. ...

Help Improve Annual Reports

As the leading organisation representing individual investors, ShareSoc is called upon by the Financial Reporting Council (FRC), to assist with their research on investor requirements. The FRC is the official body tasked with supervising the accounting profession in the UK, setting accounting standards and codes of practice for corporate governance. Their Financial Reporting Lab has asked for our help in obtaining feedback from our members in its project to research the usefulness of the current "principal risk and viability disclosures" in the ...

National Grid and Electric Cars

National Grid (NG.) have published a paper entitled “Future Energy Scenarios” which spells out the impact of future trends in energy consumption, and by implication how it might affect their business. For example, the forecast demand for electric cars might add 30% to peak electric power demand, thus requiring the equivalent of five Hinkley Point C nuclear plants. Even if people only charge their electric cars in off-peak periods, the additional demand could be very substantial. If you live in London, you ...

Organisations Applaud EU Proposal For A Pan-European Personal Pension (Pepp)

Press Release 96 SHARESOC AND UKSA, ALONG WITH BETTER FINANCE, APPLAUD EU PROPOSAL FOR A PAN-EUROPEAN PERSONAL PENSION (PEPP) TO DEFUSE THE TICKING PENSIONS TIME BOMB, AND URGE THE UK GOVERNMENT TO MAKE FURTHER PROGRESS ON FOSTERING RETAIL INVESTMENT IN CAPITAL MARKETS Cliff Weight, Director of ShareSoc commented, "The UK Government needs to ensure that, after BREXIT, we continue to look after the rights of individual investors and needs parallel process to the EU to solve the pensions timebomb." ShareSoc and UKSA ...
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