2017

The latest edition of the Transparency Times carries a story on Northern Rock and Dennis Grainger, Chairman of the Shareholders' Action Group.

The article can be found on pages 15 onwards by clicking this link: https://issuu.com/andyagathangelou/docs/transparency_times_november?e=2…

UKSA identified the Persimmon LTIP as outrageous when it was first approved in 2012. This is more than a single-company story. It also shows what groups of individual shareholders could contribute to corporate governance were they not emasculated by the erosion of their rights in favour of conflicted institutional and corporate interests.Join UKSA to support the campaign against egregious LTIPs.

As reported in today’s Financial Times (2 December 2017) an advice scandal is brewing around the Tata Steel pension fund. Some advice firms have capitalised on pensioners’ ignorance by advising transfer into high risk funds with transparently unsuitable investment profiles, undeclared fees and undeclared conflicts of interest.

UKSA is keen to build a good relationship with the Financial Reporting Council (FRC) and contribute fully to the work that it does. We believe that this is best done by developing a relationship which is based on objectivity and constructive feedback - in both directions. Sometimes that feedback is critical.

Who audits the auditors? The Financial Reporting Council is the organisation responsible for overseeing the quality of audit work carried out by auditor. As such it plays a crucial role in helping to protect your wealth. This is a unique opportunity for members only for a direct dialogue with the FRC. The FRC, for their part, are keen to hear the views of serious individual investors.

UKSA calls for independent thinkers to join us to change for the better the savings investment chain.

This may take a generation - too many vested interests, contributing too much in tax revenues, will make it so – but is vital to the long-term economic health and social cohesion of the UK.

I wanted to give you a brief update as to how the campaign for compensation is going (yes, it still is going!).

As some of you will know I have been on the committee and involved in the fight since the shares were taken from us in March 2008, and acted as the lead-plaintiff for us in the Court hearings, one at the Judicial Review, one at the Appeal Court (both disappointing to say the least) and, of course - the most disappointing of all - the rejection of our case as ‘inadmissible’ by the European Court of Human Rights (ECtHR).

A shareholder has won a battle to avoid an attempted charge of £25,000 by Capita Registrars to indemnify against the consequences of a lost share certificate.

The certificate had been mailed to Capita so that a small part-sale could be made, the balance certificate had been returned by regular mail and had been lost.

John reports that the informal donations appeal has so far yielded over £1,500. Our thanks to you all. Substantial individual donations are welcome, of course, but equal leverage comes from small amounts spread among large numbers of members. Donations can still be made by credit card or PayPal by clicking on this link.

Just 100 extra members appreciative of what UKSA does, contributing £25 each, would provide another… you do the maths