ShareSoc News

ShareSoc and UKSA joint response to CMA Update Paper on UK audit market

ShareSoc and UKSA joint response to CMA Update Paper on UK audit market is available here.

Response to CMA Audit Market Study Update Paper

The UK Shareholders Association and ShareSoc have made a joint submission to the Competition and Markets Authority (CMA) in response to the update paper they have issued relating to their audit market study. Our submission is available here: CMA - Response to Update Paper Final The key points we made were: The need for radical change The Siren voices, from those involved who argue for limited change, should be ignored. The quality of audits needs to be improved. Peer review is a good ...

ShareSoc Response to Parliamentary Enquiry on the Future of Audit

ShareSoc and the UK Shareholders Association have submitted this joint response on behalf of individual investors to the House of Commons BEIS Committee enquiry on the future of audit. It is a joint response from UKSA and ShareSoc on behalf of individual investors. UKSA and ShareSoc represent the interests of private shareholders. In addition to our own members, there are 5 million people who own shares and have investment accounts with platforms in the UK. The Office for National Statistics estimates that individual investors ...

ShareSoc and UKSA joint response to BEIS Parliamentary Committee on Future of Audit

ShareSoc and UKSA joint response to BEIS Parliamentary Committee on Future of Audit is available here.

Small shareholders renew bid to make RBS a better run company

Press release 108 - Small shareholders renew bid to make RBS a better run company RBS Shareholders Requisition Shareholder Resolution for a Shareholder Committee. Over 100 shareholders in the Royal Bank of Scotland (RBS) have requisitioned a resolution to install a "Shareholder Committee" at the company, which will include shareholder representatives, to improve the corporate governance and shareholder engagement at RBS. RBS will now have to put this proposal to a vote at their Annual General Meeting (AGM) in May 2019. ShareSoc ...

ShareSoc and UKSA’s joint response to the FCA consultation on Illiquid Assets

ShareSoc and UKSA’s joint response to the FCA consultation on Illiquid Assets is available here

Response to Illiquid Assets Consultation cp18-27

Today, 17 December 2018, ShareSoc and  the UK Shareholders Association  submitted to the FCA a joint response on behalf of individual investors to this consultation. The key points we made were: UKSA and ShareSoc represent the 5 million people who own shares and have investment accounts with platforms in the UK. We represent the individual investors who own 12% of the UK stock market: they own 30%, if you include their investments via funds, pensions, etc. Our view is that better labelling of these ...

New FCA consultation on CFDs – Request for help

by Cliff Weight, Director, ShareSoc The FCA have launched a new consultation on CFDs and “retail derivatives”: https://www.fca.org.uk/publications/consultation-papers/cp18-38-restricting-contract-difference-products-sold-retail-clients-and-discussion-other-retail  We are circulating this to members to see if anyone has specific experience and competence to be able to respond – and is willing to help. The FCA have asked 17 specific questions. Our approach to consultations is to only answer those questions where we have particular knowledge.  We usually write a covering letter highlighting our views about the key issues and then give the answers ...

FRC Slides 3 Dec 2018, How to Complain and Appeal for Volunteers

I have received this feedback from the FRC "Thank you very much for rounding up a great audience on Monday, we are very pleased with how the event went. Please find attached the slides and feel free to circulate them to attendees." So, here are the slides. Lifting the Lid Event Slides - 3 December 2018 The FRC stressed they want to hear our complaints about companies and auditors. If you have a complaint then send it to the FRC complaints email oversight@frc.org.uk. If you wish to ...

PWC and the future of audit

We have been contacted by PWC about the future of audit. The letter below from Hilary Eastman at PWC to Peter Parry explains the background.  Please do access the on-line platform and send comments in. There are only a handful of questions and it is quick to do. www.pwc.co.uk/futureofaudit   More importantly, you will see that PWC is organising a number of engagement events around the country. Please send your name to the ShareSoc office info@sharesoc.org  if you would like to attend one of these ...