Hot on the heels of the Brussels conference on EU proposals for a capital markets union (see previous news item), the UK Shareholders’ Association (UKSA) has sent the Commission its opinion on two vital matters for private investors.
The EU has issued a ‘Green Paper’ to consult on its Capital Markets Union proposals. As a member of Better Finance, the organisation representing private shareholder associations and the like across Europe, UKSA supports that body’s representations to the Commission, but we also had something special to say. This is because the UK is different from other member states in denying normal shareholder rights to investors using pooled nominee accounts.
UKSA has for many years been in the forefront of efforts to amend the law with regard to nominee accounts. This principally rests with the UK government to do and we are seeking an early resumption of our discussions now that the new government is in place. However, the EU, through various directives and regulations, sets the conditions for member states’ legislation on such matters, so what the EU decides does matter to us. This is why UKSA has substantially raised its financial contribution to Better Finance (which is now 85% of the contributions from the UK).
Join UKSA to help secure the rights and protections that UK savers and investors need.