UKSA has signed a letter to the Financial Times exposing once again the hole at the heart of modern accounting: the loss of the prudence principle.
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.
"Lifting the lid" on the FRC - UKSA members will be attending a private meeting with the FRC on Tuesday 21st November 2017
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.
Dennis Grainger and Action Group colleagues have been heavily engaged in media interviews to coincide with the 10th anniversary of the ‘run', culminating in the hand delivery of a letter to the Prime Minister in Downing Street.