This page contains all current and past public consultations to which ShareSoc has responded. The latest ones are at the top of the list. One of the main activities of ShareSoc is to make sure that the views of private shareholders are communicated, and your interests represented, and one way we do that is by responding to all relevant public consultations. Many of ShareSoc’s adopted policies on specific issues are documented in these consultation responses.
Note that some of the documents referenced in links are pdf files. You will need the Adobe Acrobat Reader installed to be able to open and read these documents. Most PCs already have that software installed, but if not you can download a free copy from https://get.adobe.com/uk/reader/
ShareSoc calls for reduced trading hours, fewer auctions and wider access to DMA, in a detailed response to the London Stock Exchange Consultation. A copy of ShareSoc’s 8 page response to the 22 questions in response to the consultation detailed in Stock Exchange Notice N18/19 can be downloaded here: Response-to-LSE-Consultation-on-Market-Structure-and-Trading-Hours-N18-FinalR
The consultation document can be downloaded here: https://www.londonstockexchange.com/traders-and-brokers/rules-regulations/change-and-updates/stock-exchange-notices/2019/n1819_attach1.pdf
This is a very technical area. But nevertheless very important to individual investors. The response was very largely written by Mark Bentley, to whom members should ...
ShareSoc-UKSA submitted a joint response on behalf of individual investors, on 5 Nov 2019. The key points we made were:
Communication by email rather than by post is now the norm and assumed as the default position. Printing annual reports and shareholder circulars and sending them to shareholders by post is no longer necessary. Postage and printing costs were some of the key drivers of the nominee system. A modern system of intermediated securities should embrace and recognise modern technology and ensure ...
I am writing to ask you to make a personal submission to The Law Commission Call for Evidence on the subject of dematerialisation, intermediated securities, shareholder rights and nominees/platforms. This is the most important issue that ShareSoc-UKSA campaigns on. Your response must be done by 5 November and submitted to
By email to email@example.com.
Commercial and Common Law Team,
1st Floor, Tower,
52 Queen’s Anne Gate,
London, SW1H 9AG.
I attach a copy of the official ShareSoc-UKSA response, which runs to 38 pages. A personal ...
Response to Initial Consultation on Recommendations by the Competition and Markets Authority
Peter Parry and Cliff Weight have written a joint response on behalf of the UK Shareholders’ Association (UKSA) and the UK Individual Shareholders’ Society (ShareSoc). This has been submitted to the CMA. We made these key points:
There are a few important and overarching issues which we believe need to be stated:
Limitations of the CMA’s remit; the CMA was tasked with looking at the audit market and, in particular, considering ...
In a joint response from UKSA and ShareSoc on behalf of individual investors, to the FCA CP19/12 Consultation on Investment Platforms Market Study Remedies, we said:
As noted in para 1.6 of CP19/12, the consultation paper will also be of interest to representative industry bodies and consumer groups. Individual consumers may also find it of interest, and their feedback is welcome.We represent “consumers”, although we prefer the term ‘investors’.
To inform our response, ShareSoc undertook a survey of our members in April-May 2019 ...
UKSA-ShareSoc submitted a joint response to the Brydon REVIEW INTO THE QUALITY AND EFFECTIVENESS OF AUDIT
We said a fresh approach was needed.
Many of the questions in the Review overtly or implicitly prompt debate about how the external audit can be made more robust and more relevant in future. Underlying this is a requirement to find ways of making auditors more accountable to those they are meant to be serving – namely the shareholders. Our view is that this cannot be achieved ...
In a detailed joint ShareSoc-UKSA 12-page Response to BEIS on the FRC Kingman proposals, we said we support the general thrust of the Kingman proposals. Kingman is proposing a new authority to replace the FRC.
We also made some more general points:
Sound financial reporting is a basic prerequisite for good stewardship. However, no matter how good the financial reporting is, if a significant proportion of investors are disenfranchised and unable to make their voice heard, many of the benefits of better financial reporting will ...
In January 2019, the FCA and FRC issued a joint discussion paper DP19/1 Building a regulatory framework for effective stewardship.
On 15 April 2019, we made a joint response from UKSA and ShareSoc on behalf of individual investors. In our response we make the following key points:
Investor stewardship must not let boards off the hook for their own stewardship. The Stewardship Code should be renamed the Investor Stewardship Code to better reflect what investors do and to better acknowledge the role of ...
ShareSoc and UKSA’s joint response to the FCA Consultation on proposals to improve shareholder engagement is available here.
ShareSoc and UKSA’s joint response to the FRC Consultation on the Corporate Stewardship Code is available here.