ShareSoc News

Policy and Campaigns – Progress Update to 30 April 2021

In April 2021, we worked on: Woodford Campaign: Leigh Day are the only claim with insurance and funding in place. Harcus Parker have funding but do not have ATE insurance. RGL have neither insurance nor funding (other than funding for an initial step). Leigh Day (whose claim ShareSoc have endorsed) now have c 10,000 claimants registered and are the leading claim. Sirius Minerals Shareholder Group, Sirius Claim Group: A 20 page review of the evidence was finalised in April ...

The SFO Needs You! [If You Held Shares in Patisserie Valerie]

The SFO has recently been in touch with registered shareholders of Patisserie Valerie (CAKE). But if, like most shareholders, your shares were held in a nominee account, they probably won't have been able to contact you. They are asking for shareholders to complete a questionnaire to assist them with their enquiries into allegations of fraud at that company. You can find full details and the questionnaire here: https://www.sfo.gov.uk/cases/patisserie-holdings-plc/ Mark Bentley, Director, ShareSoc

End of Life for Previous ShareSoc Members’ Network

It is now more than a year since we released a major upgrade to ShareSoc's website, fully described here: https://www.sharesoc.org/sharesoc-news/sharesoc-website-upgrade/. A key aspect of this upgrade was the integration of forum functionality previously provided by our separate members' network website. That website is based on the Ning software service. As our new forums have now been operating successfully for more than a year, we intend to discontinue the old Ning site within the next month. Before the transition recent/important content was migrated ...

Woodford Webinar questions answered

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)  

Policy and Campaigns – Progress Update 31 March 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 ...

VCT INVESTORS GROUP Update and report on 23 March 2021 webinar

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 ...

Improve Access for Retail Shareholders

Give Growing Companies Better Access to Retail Shareholders to Boost the UK Economy ShareSoc News Item by Mike Dennis, Director A recent survey1 of ShareSoc members was undertaken in conjunction with Aquis Stock Exchange (AQSE) and it has revealed that many individual investors do not feel they have good, equal access to growth stocks. Key findings of the survey1 55% of individual investors polled feel they don’t have, or aren’t sure they have, good access to growth companies Over 80% of respondents feel individual ...

FRC webinars re audit reform

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 ...

FRC consultation on Audit Quality issues – ShareSoc/UKSA joint response

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 ...

Feedback on the FRC’s Draft Plan and Strategy and Budget 2021/ 2022.

Official News Item by Cliff Weight, Director  ShareSoc and the UK Shareholders Association made a joint response to the FRC on the FRC’s Draft Plan and Strategy and Budget 2021/ 2022. Our key points were: We believe that this sets out sufficiently clearly the FRC’s plans and strategy for the coming year. We are not able to comment in any detail on the proposed budget but we believe that, with minor exceptions, it provides as much information as most stakeholders are likely to require. We ...