Shareholder Rights are central to ShareSoc’s campaigning activities. Defending pre-emptive rights and the rights of minority shareholders, and ensuring access for individuals to placings on fair terms are areas where we lobby, represent and campaign for the benefit of ShareSoc members and individual investors as a whole.
Primary Bid, in collaboration with the London Stock Exchange, has made huge strides in making IPOs and fund raises more available to retail shareholders. The Treasury is finally putting various initiatives in place following the ...
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.
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 ...
It is good news that The Mail on Sunday MailOnline is supporting shareholders and shareholders rights.
I get quoted....
Cliff Weight, director of investor campaign group ShareSoc, says wealth platforms make it so difficult for customers to engage that they are 'disenfranchising individual shareholders'.
He says: 'Most platforms don't even pass on information and if you want to vote the method offered is practically prehistoric. As a result they're throwing away millions of shareholder votes.'
Weight believes platform Interactive Investor is better than most. Eight per cent ...
CityAM article on modernising share ownership https://www.cityam.com/share-and-share-alike-electronically/ quotes
Cliff Weight, director of ShareSoc, the individual shareholders’ campaigning group, [who] is likeminded, preferring dividends to be paid directly into his bank or share-trading platform account. He is similarly in favour of the move towards digital systems for paper share certificates, albeit with an important caveat. “An electronic system is needed, but it must pass on my ownership rights to vote and receive information – far too many trading platforms fail to pass on these ...
Please sign the petition, asking issuers to include retail investors when issuing shares, if you have not already done so. See
The petition already has over 1,000 signatures.
Mark Northway, Chairman, ShareSoc
Lord Lee of Trafford DL FCA House of Lords
Adam McConkey, Chairman, Quoted Companies Alliance
Sarah Wilson, CEO, Minerva Analytics Ltd
Andy Bell, Founder & CEO AJ Bell
Peter Hargreaves, Founder Hargreaves Lansdown
Paul Killik, Senior Executive Officer, Killik & Co
Gavin Oldham OBE, Chairman Share plc/The Share Centre
Small shareholders set for power boost as shake-up may give ...
This is Money, 7 Mar 2020:
...Cliff Weight, a director at ShareSoc, another group representing small investors, said: ‘Low rates of voting by individual investors mean opportunists can overly influence takeovers.’...
ShareSoc-UKSA submitted a joint response on behalf of individual investors, on 5 Nov 2019. The key points we made were:
Communication by email rather than by post is now the norm and assumed as the default position. Printing annual reports and shareholder circulars and sending them to shareholders by post is no longer necessary. Postage and printing costs were some of the key drivers of the nominee system. A modern system of intermediated securities should embrace and recognise modern technology and ensure ...