After extensive work, UKSA director Sue Milton has drawn up and filed a detailed response to the Call for Evidence for the Cyber Security Incentives and Regulation Review 2020 being conducted by the Department for Digital, Culture, Media and Sport.
This was an excellent event, well organised by the FRC with about 80 attendees from ShareSoc and the UK Shareholders' Association.
Peter Parry and Cliff Weight have written a joint response on behalf of the UK Shareholders’ Association (UKSA) and the UK Individual Shareholders’ Society (ShareSoc). This has been submitted to the CMA. We made these key points:
UKSA and ShareSoc meet with the law Commission to discuss concerns about individual shareholder disenfranchisement
The Law Commission is consulting with stakeholders on intermediated securities (the system of nominee and beneficial shareholders). Following the initial consultation the Commission will implement a scoping study which will provide an accessible account of the law, a description of the corporate governance and other legal issues associated with intermediated securities and an assessment of whether the issues cause difficulties in practice. It will also aim to develop a consensus about issues to be addressed in the future.
The FCA has recently been consulting on the fees charged to investors by investment platform providers when they switch platforms. Do these distort competition by discouraging users from switching platforms?
The collapse of Carillion in January 2018 prompted a flurry of high level consultations including the BEIS inquiry into the Future of Audit and Sir John Kingman’s Review of the FRC. These have now been followed by a review of the Quality and Effectiveness of Audit by Sir Donald Brydon.
UKSA and ShareSoc submit a joint response to the FRC discussion document on ’Business Reporting of Intangibles’
Research by the FRC in 2018 indicated that stakeholders supported further research on intangibles. A discussion paper was issued in February2019.
UKSA and ShareSoc submit a joint response to the FCA on proposed revisions to the UK Stewardship Code
The FCA have asked for feedback on the proposed revisions to the UK Stewardship Code (the Code).