UKSA, ShareSoc and Share Action have sent their final comments to the Digitisation Taskforce.

UKSA, ShareSoc and Share Action managed to meet the Taskforce on 18th September. Afterwards, we sent the Taskforce a follow up email confirming our collective views in anticipation of their final report, which should be out by the end of 2024.

Being vigilant is key.  A bit of research identified three red flags

The flags are:

1. The firm has no licence to operate in the UK.  From the FCA website DEAN-BARON CORPORATE GROUP LLP | FCA:

   DEAN-BARON CORPORATE GROUP LLP
   Warnings First published: 02/09/2024 Last updated: 02/09/2024 
   This firm may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams.

Prompted by our recent discussions with Euroclear, Registrars and ShareAction, we are seeking through ShareAction a follow up meeting before the Taskforce publishes its final report, expected by the end of September.

This submission presents a potential transformation of the consumer protection landscape. 

Beware of an increasing number of scammers contacting Northern Rock shareholders.

The firms state they are financial services, consultancy services and legal organisations. They require their targets to sign a non-disclosure agreement. Some are saying that they are doing this on behalf of Virgin Money UK. 

Sue Milton, External Relations Director, has contacted Virgin Money, the bank that bought Northern Rock in January 2012.  Virgin Money has confirmed they are not doing anything with Northern Rock and these firms are not acting on behalf of Virgin Money.