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.
We need to continue to make sure that the Taskforce gets the balance right, meets its terms of reference and ensures no loss of shareholder rights for those who currently have paper share certificates and restores the same level of rights (usually called ‘shareholder on register rights’) to those whose shares are and will be held in nominee accounts.
UKSA’s view is that the right digitisation solution, which should not be technologically difficult nowadays, is to have the names of all beneficial owners of shares on registers, whether intermediated or not. We plan to write to HMT and DBT to emphasise our view and influence how they deal with Sir Douglas Flint’s final report, when they receive it.
