ShareSoc responded to the Independent Commision on Banking with this submission in response to their Interim Report: ICB_Consultation_Response.
In summary we agree with much of the report but are not in favour of a UK "retail ring-fence".
PRESS RELEASE 06 (16/06/2011)
The UK Individual Shareholder Society (ShareSoc) has launched a new “Manifesto” which is a clear statement of what it will be promoting in future. It is aimed at tackling many of the faults in the existing operation and regulation of UK stock markets and businesses. For example it is generally recognised that the “engagement” of shareholders with the companies they own is inadequate. This has led to errant directors who seem sometimes to run companies in their own ...
PRESS RELEASE 05 (05/05/2011)
The UK Individual Shareholder Society (ShareSoc) is pleased to announce the appointment of Mark Bentley as a Director of the Society. Mark has extensive experience of stock market investment and will be initially assisting the board of ShareSoc on a project to improve the available information about AIM companies, their Nomads and Directors and the general legal and regulatory environment for listed companies.
A brief biography of Mr Bentley is as follows:
Mark Bentley, M.A. has been a full-time stock ...
PRESS RELEASE 04 (21/04/2011)
The UK Individual Shareholder Society (ShareSoc) has considered the issues raised by Laxey Partners in relation to Alliance Trust and the Resolutions proposed by them at the forthcoming AGM. We agree with the proposals by Laxey for the introduction of a Discount Control Mechanism (DCM) and the change to the voting arrangements for shares held in the Alliance Trust Savings Schemes.
Our position is that we believe that it is not in shareholders’ interests to have a consistently wide ...
PRESS RELEASE 03 (04/03/2011)
The UK Individual Shareholder Society (ShareSoc) is throwing its weight behind proposals for the involvement of investors in the process that leads to the nomination of directors to the boards of companies.
ShareSoc recently made a submission to the Financial Reporting Council (FRC) on the use of Nomination Committees to select auditors. In addition we would like to see this system also used for the appointment of directors and to set the remuneration of the directors.
ShareSoc Chairman Roger Lawson ...
PRESS RELEASE 02 (25/02/2011)
Shareholders in Acuity Growth VCT, with the support of ShareSoc, are calling for substantial changes to the board of the company. The final results for the financial year ending September 2010 were published on the 31st January 2011. These showed a 33% reduction in NAV and yet again, no dividend payment. This follows a similar dire performance in the previous year.
The Directors of the company are now actively seeking a new investment manager. However this action is long ...
PRESS RELEASE 01 (14/02/2011)
The “UK Individual Shareholders Society”, or “ShareSoc”, has been formed to represent individual shareholders (i.e. private investors, rather than institutions). The reasons for doing this are as follows:
There are millions of private shareholders in the UK. They are not adequately represented at present and as a result they have little influence, while other organisations across Europe have tens of thousands of members.
We need an active body to campaign for the rights of shareholders and to represent ...
ShareSoc comments on the FRC proposals on "Effective Company Stewardship" and the proposal to drop printed annual reports: FRC_Response.
A supplementary response covering the issue of Nomination Committees was also submitted in this document: FRC_Response_Supp
ShareSoc objects to proposal to outlaw execution-only trading. See Consultation Response: MIFID_Response