ShareSoc News

House of Commons Treasury Committee
Future of Financial Services Enquiry
Consultation Response

A ShareSoc news item by ShareSoc Director Cliff Weight ShareSoc and UKSA submitted a joint response on 19th February 2021. In summary we said: A long history of regulatory failures demonstrates serious deficiencies in the way financial services are currently regulated. The UK’s departure from the EU means that the UK can now set its own financial services rules, untrammelled by the views of 27 other countries. We believe that major changes are required, particularly in the following areas: Making the best ...

HM Treasury Financial Services
Future Regulatory Framework Review
Phase II Consultation Response

A ShareSoc news item by ShareSoc Director Cliff Weight The fundamentals of financial regulation are under question Recent regulatory failures (for example Woodford, the mis-selling of mini-bonds peddled by London & Capital Finance, Wellesley, and the failure to protect pensioners being pressured by advice on pension transfers from commissioned agents) have forced a welcome review of current practice. ShareSoc and UKSA are responding to make sure the interests of ordinary savers and investors are properly safeguarded. Two separate consultations are in progress, for HM ...

Woodford Campaign Update 3
21st February 2021

1. ShareSoc and Mello Events will present a free event, Woodford Debacle – Reflections, Redress and Reform from 6pm to 8.30pm on 9th March. We will review in detail what went wrong with Woodford, the various claims for redress and what steps investors should take, including how to claim. 2. ShareSoc’s Press Release of 6 February formally launched our Campaign just before Neil Woodford announced his “apology” and his return to fund management. 3. Leigh Day, whose claim ShareSoc has endorsed, has secured ...

Press Release 118: Woodford investors
What should you do now? Is compensation possible?
Free 9th March Webevent

  The extensive Woodford coverage of recent days has highlighted the fact that most potential claimants didn't know and weren't being told of the options for redress available to them. Half a million Woodford Equity Income Fund investors now need to do three things: Join ShareSoc's Woodford Campaign. Register for the March 9th Webinar - covering the background to the Woodford Debacle and how investors can claim redress. Join Leigh Day's claim #WoodfordPayback. ShareSoc, the highly influential investor lobby, believes ...

Press Release 117: Woodford investors odds of recovering losses get boost as lawyers Leigh Day reach key milestones

Over half a million investors in the Woodford Equity Income Fund now have a much better chance of recovering significant losses, as the legal move from Leigh Day, backed by ShareSoc’s Woodford Campaign, becomes the first to reach funding and claimant costs insurance agreements. ShareSoc, the highly influential investors body, believes it’s in the best interests of all those who lost money in the Woodford Equity Income Fund (WEIF) to join both the Leigh Day claim and the linked ShareSoc Woodford ...

Policy and Campaigns – Progress Update Jan 2021

Below is a short summary of what has been done in January 2021. We have been very active on many issues on behalf of members and all individual investors. Policy and Campaigns - January update to members

Woodford Campaign Update 1: Jan 2021

Below is the first of what we plan to be regular updates to members advising them of what we have done in this very important campaign. Woodford January NEWSLETTER

ShareSoc Seeks “Head of Volunteering”

ShareSoc's board is dealing with many projects and tasks - more than we can handle. For our Society to be most effective, we need to make better use of the services of the many kind members who have offered to help. We are therefore looking to recruit a voluntary Head of Volunteering to coordinate this process. If you are interested in taking on this role, you can find further details and an application form here: Thanks for your attention. Mark Northway, Chairman, ShareSoc

Press Release 116: Requirements of public companies’ directors regarding takeover approaches

Press release 116 - Requirements of public companies’ directors regarding takeover approaches Joint Press Release from ShareSoc & UKSA on behalf of individual investors ShareSoc and UKSA recommend The Takeover Panel: Review their current rules, which disadvantage individual shareholders and all those who are not privy to a potential bid. Sets out a clear and orderly framework for takeovers, including measures to ensure fairness to shareholders and other stakeholders. Consider issuing Panel guidance for assessing when talks ...

ShareSoc and UKSA Response to FCA Consultation on Guidance for Insolvency Practitioners

On 7th December 2020 the FCA published draft guidance for Insolvency Practitioners (IPs) on how to approach regulated firms and launched a consultation on that proposed guidance. This is of particular interest to individual investors because it guides the actions of IPs involved in Special Administrations, which occur when a broker fails. ShareSoc has been concerned about the Special Administration Regime (SAR) since we got involved with the Beaufort case. Clients with substantial portfolios were threatened with significant "haircuts" to their holdings, to ...