Wednesday, February 19, 2025 - 12:33
In July 2021 UKSA and ShareSoc and made a joint submission to the Department for Business, Energy and Industrial Strategy (“BEIS”) on their consultation document “Restoring trust in audit and corporate Governance.” (6/7 of the authorship came from UKSA!). BEIS is now known as the Department of Business and Trade (DBT).
Tuesday, February 11, 2025 - 08:34
On 6th February 2025, UK Shareholders responded to FRC’s consultation on its new three-year strategy and says it should better reflect the recommendations of the Kingman Review.
Cambridge Law Journal article echoes our concerns about digitisation and the nominee system
Monday, January 6, 2025 - 08:18
A recent article in the Cambridge Law Journal by Eva Micheler (Professor of Law at the London School of Economics and Political Science) and Elena Christine Zaccaria (Senior Lecturer at Brunel University London) looked at the Government’s plans to force digitisation of the remaining certificated shares in Britain.
Key concerns about Digitisation Taskforce
Monday, January 6, 2025 - 08:06
UKSA writes to Treasury and Department for Business and Trade on key concerns about the Digitisation Taskforce, which has still not produced a final report and recommendations to the Government (See Digitisation Taskforce - GOV.UK (www.gov.uk))
UKSA appoints new Head of Policy Team
Tuesday, December 17, 2024 - 08:52
Ian Brindley to become new Head of Policy Team from 1 January 2025. Dean Buckner is stepping down as Policy Director at the end of 2024. UKSA thanks him for leading the Policy Team over the past five years and handing over the excellent team it has become. Dean stays on as a director of UKSA and a member of the Policy team.
What’s the latest on Sir Douglas Flint and his Digitisation Taskforce?
Sunday, November 17, 2024 - 19:14
UKSA, ShareSoc and Share Action have sent their final comments to the Digitisation Taskforce.
What’s the latest on Sir Douglas Flint and his Digitisation Taskforce?
Monday, July 22, 2024 - 07:45
Prompted by our recent discussions with Euroclear, Registrars and ShareAction, we are seeking through ShareAction a follow up meeting before the Taskforce publishes its final report, expected by the end of September.
UKSA takes a new approach to financial learning to the regulator (Financial Conduct Authority)
Monday, April 1, 2024 - 22:32
This submission presents a potential transformation of the consumer protection landscape.
UKSA's evidence to UK Parliament Education Committee now published
Wednesday, January 31, 2024 - 10:32
UKSA's submission to the Inquiry conducted by the UK Parliament's Education Committee has now been published.
FRC draft budget and plan 2024-25 – any good?
Wednesday, January 24, 2024 - 21:06
UKSA expresses its disappointment in the government’s dismal performance on restoring trust in audit and governance in its response to the FRC’s draft budget and plan 2024-25 for consultation.
UKSA makes first ever submission to Parliamentary Education Committee
Tuesday, January 16, 2024 - 23:06
In response to an ‘Inquiry into strengthening Financial Education’ UKSA presented new ideas to address the UK population’s weakness in financial literacy.
Monday, January 15, 2024 - 15:35
Who is responsible for an organisation’s non compliance with laws and regulations? We have replied to the FRC’s consultation to point out that the revised ISA (UK) 250 needs to be very clear on this – it’s the organisation’s management, not the auditor
Friday, January 12, 2024 - 10:20
We had asked for the meeting to express concerns at the direction of the Taskforce’s Interim Report expressed in our formal response.
Thursday, October 5, 2023 - 10:19
Board focus will be forced to change and, at last, boards will be unable to escape responsibility for internal control, assurance and resilience. But surely directors should be taking responsibility for these already. If not, why not? Small but significant adjustments to the UK’s Code of Corporate Governance it will mean a big win…
Friday, September 15, 2023 - 10:59
UKSA has responded to the interim report of the Digitisation Taskforce. The report is a big step forward, and UKSA has replied extensively to the questions asked. But it fails to confront the systemic weaknesses that often force individual investors to abdicate their ownership responsibilities in favour of intermediaries.
Conclusion: there’s nothing obviously wrong with the UK stock market listing rules
Friday, June 30, 2023 - 15:33
There’s a drive to make UK stock markets more attractive. Changing the listing rules will not necessarily make them so. The Financial Conduct Authority’s Primary Markets Policy Team has issued a consultation paper, CP23-10, proposing equity listing rule reforms arising from the primary markets effectiveness review.
Friday, March 3, 2023 - 10:18
UKSA has responded to the FCA consultation ‘Broadening access to financial advice for mainstream investments’. The consultation pays more attention to creating an additional market for the industry than it does to helping individual savers.
Introducing a gateway for firms who approve financial promotions.
Friday, March 3, 2023 - 10:07
Question: why should unauthorised firms be allowed to promote and sell their products at all in the UK? Answer: we don’t know. But there are many non‑compliant promotions being approved and then communicated by unauthorised firms to retail consumers resulting in harm because of inappropriate marketing and targeting. Currently, any…
The new Audit Committee Standards – should we future proof them? That is the question.
Friday, March 3, 2023 - 10:01
Why not make this standard the minimum requirements expected of audit committees? Why not use the standard to anticipate the wider authority ARGA will have? The proposed standard is minimalist. It limits focus on just some aspects – tendering, oversight of auditors and audits, and reporting.
No Investment Product should have the word ‘sustainability’ associated with it!
Friday, January 27, 2023 - 10:48
UKSA and ShareSoc respond to the FCA’s consultation on Sustainability Disclosure Requirements (SDR) and investment labels. Investment products are not sustainable in the ‘green’ sense.
UKSA publishes its position on Dematerialisation
Friday, December 30, 2022 - 13:02
Since CREST and shares dematerialisation was introduced in the 1990s, shareholders’ rights have been eroded through intermediation. Following recent stock markets reviews, UKSA believes the UK may reverse this trend through using technology better and improved government regulation.
Martin White wins prestigious Frank Redington Prize
Tuesday, November 29, 2022 - 09:26
UKSA is delighted to report that Martin White has won the prestigious Frank Redington Prize awarded by the Institute and Faculty of Actuaries (IFoA). Martin submitted the winning paper answering the following competition brief:
UKSA policy team now strongest ever
Tuesday, November 22, 2022 - 08:39
The team now comprises eight members, each with different but highly relevant professional skills and experience. They are free of commercial conflicts and most are retired.
UKSA and ShareSoc respond to ISSB’s recent sustainability reporting standards consultation
Sunday, September 4, 2022 - 13:22
UKSA and ShareSoc response, to newly formed International Sustainability Standards Board (ISSB) on their general (S1) and climate (s2) reporting standards consultations, is number 523 (and 527) out of over 1,000.
FRC consult on firm level audit quality indicators
Sunday, September 4, 2022 - 12:35
Whatever you think of audits and their quality, unless audit firms produce and report audit quality indicators, audit quality will not improve. At the end of June 2022, the FRC issued a consultation on firm level audit quality indicators (AQIs).
UKSA provided input to the FRC’s new guidance: Good Practice Guidance for Company Meetings.
Sunday, August 28, 2022 - 22:15
Members of UKSA have contributed to the new guidance for listed companies to enhance effective shareholder participation when planning and conducting AGMs.
The Government must not make insurance companies riskier or seek to direct how they invest
Friday, July 22, 2022 - 10:34
The HM Treasury consultation document on Solvency II proposes reducing capital buffers to encourage insurance companies to invest in assets that the Government considers desirable. UKSA’s response (here) explains that UKSA is seriously concerned by the proposals.
Tuesday, May 17, 2022 - 11:42
The FCA’s response is helpful on explaining the process, guidelines and expectations (good!) but thin on addressing our specific questions (not good!). The FCA’s response to UKSA’s letter is here.
Forced to pay £1,000s for conflicted pension advice!
Tuesday, April 26, 2022 - 08:00
Advisers who act as salesmen for financial firms should be banned from offering advice on defined benefit pension transfers. The 24 April paper edition of the Sunday Times continues to follow the outrageous treatment of UKSA members Julie and Chris Thorpe.
Reverse factoring as part of supplier finance arrangements
Saturday, April 23, 2022 - 23:27
There are many conventional ways of raising Working Capital. Why, therefore, do companies use reverse factoring? Maybe reverse factoring is used because other credit lines are not available to them. Is it a red flag moment? Reverse factoring has been a convenient way of hiding and disguising these problems – as was seen with…
UKSA opposition to Department of Work & Pensions proposal has effect
Wednesday, April 6, 2022 - 09:05
Patrick Hosking reports in the Times: ‘Ministers are rowing back from a radical plan to encourage pension funds to invest in unlisted assets after getting a mixed response from the investment industry and an emphatic thumbs-down from consumer groups.’
Wednesday, March 2, 2022 - 09:45
The FCA’s goals to achieve the best possible outcomes for consumers are laudable.
Monday, February 14, 2022 - 13:58
UKEB are assessing IFRS 17 Insurance Contracts for adoption in the UK under its endorsement criteria implemented on exiting the EU. While insurance companies desperately need accounting standards to stop them flattering their accounts, UKSA and ShareSoc are not convinced that IFRS 17 meets UKEB’s endorsement criteria.
Department of Work and Pensions consultation: Enabling investment in productive finance
Friday, January 28, 2022 - 10:11
We register our deep concern about the suggestions in this consultation paper. Why?
Will IASB’s revised guidance help us see the wood for the trees?
Friday, January 28, 2022 - 00:16
To improve disclosures, the International Accounting Standards Board (IASB) has developed guidance it will apply when developing and drafting disclosure requirements in IFRS Standards. The IASB has applied its new guidance in its proposed amendments to the disclosure sections of IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits.
