Policy and Campaigns – Progress Update 4 April 2022
Since our last update in November 2021 (see page 16 here), we have worked on:
1. Consultation responses and government lobbying
2. Woodford Campaign
3. Voting Guidance and Shareholder Engagement
4. Shareholder Rights/Nominees
6. FCA liaison
7. FRC, BEIS, etc liaison
9. AIM regulation
1. Consultation responses and government lobbying. This continues to be a major area of work, where ShareSoc represents the interests of individual investors. We have submitted responses to:
• FRC Endorsement Board – Draft Endorsement Criteria ...
Since Oct 12 (see previous update here), we have worked on:
Audit and Governance reform: many members have told us of their concerns about the disasters at Carillion and many others. We view the audit and governance reforms as crucial and have pressed for these to be moved forward as quickly as possible. We are concerned about lobbying to slow down this progress and co-signed a letter to the FT which was published on 12 Nov. 21.
Woodford Campaign: ...
Since June 14 (see https://www.sharesoc.org/sharesoc-news/policy-and-campaigns-progress-update-14-june-2021/ for previous update), ShareSoc's Policy and Campaigns' team have worked on:
Woodford Campaign: Leigh Day have submitted their claim. They now have 11,000 claimants and another 3,000 registered, but yet to sign their Leigh Day agreement. We held a very successful webinar on 30 Sept with 942 registrants.
ShareSoc’s Woodford Campaign now has over 1,500 members, which enables us to lobby strongly for regulatory change and to hold to account those who have done wrong.
This is a personal blog by ShareSoc Director Cliff Weight and does not necessarily reflect ShareSoc's position.
With regard to concerns about the need and demand for voting services, there is some good data in the Mail On Sunday today which is helpful in demonstrating the need for providing a good, quick, easy to use voting service. Viz
Older investors are leading the way in influencing the companies they invest in, according to a new survey by Interactive Investor.
A third of investors aged ...
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 ...
Cliff Weight, ShareSoc Director reviews Retail Shareholder Participation in the Proxy Process: Monitoring, Engagement, and Voting: Working Paper N° 637/2019 November 2019: By Alon Brav, Matthew D. Cain, Jonathon Zytnick This...
One of our Members has responded to our previous note on voting your shares held in nominee accounts and in particular ISAs by saying that when he requested they submit votes on his Rolls-Royce shares the Idealing company said there would be a £30 administration charge for doing so. The ISA regulations make no provision for such a charge so I have advised that he should tell them this is illegal.
Below is the relevant part of the ISA Regulations which some ...