ShareSoc News

FCA Annual Meeting 10am 15 September – Virtual Meeting

This meeting is open to all. You can register here: https://webinars.fca.org.uk/annual-public-meeting-2022 You can also submit questions if you wish. I have submitted a question on behalf of ShareSoc: ShareSoc, a not for profit independent organisation, dedicated to supporting individual investors, has made a considerable investment in producing an attractive video series, designed to help new investors. Will the FCA help to promote this series, to ensure that the general public is well informed about the basic principles of sound investment practice? Will you meet with ShareSoc ...

The value of the AIM market decreased by 30% in the first half of 2022

The value of the AIM market decreased by 30% in the first half of 2022, from £150 bn to £105 bn. The tech-heavy NASDAQ and the S&P have also suffered large declines. The FTSE 100 index is up by c 1% YTD.  Of course, investing in the NASDAQ or S&P over the long term (20/30+ years) would have hugely better returns than the FTSE 100. These figures highlight the importance of asset allocation. The severity of the AIM market decline was highlighted ...

Financial Reporting Council Consultation Response: Firm-level Audit Quality Indicators

On 18 August 2022, UKSA and ShareSoc submitted a joint response to the Financial Reporting Council with our comments on their consultation on firm-level Audit Quality Indicators (AQIs). We made the following key points: Definition of audit quality We understand from its various recent publications that the FRC has a definition of high quality audits as audits that: provide investors and other stakeholders with a high-level of assurance that financial statements give a true and fair view; comply with both the spirit and the ...

Representing, Lobbying and Campaigning – Progress Update 01 August 2022

Executive Summary We have focussed our resources mainly on the Woodford campaign, best practice guidance for AGMs, nominee accounts and pre-emption rights; and maintaining good relationships with the FCA, FRC, BEIS and Treasury. Activities relating to ShareSoc’s shortly to be launched Investing Basics Course have consumed much of our available resource and limited what can be done on campaigns. Nevertheless, we have made much progress. Since our last update of 4 April 2022 we have worked on: Consultation responses and government lobbying  ...

ShareSoc/UKSA Joint response to IFRS Foundation International Sustainability Standards Board Consultation

In a joint UKSA/ShareSoc response on 29 July 2022, we said We support the creation of the International Sustainability Standards Board and wish to see it succeed in its mission of developing high-quality global standards for sustainability reporting by companies, which should lead to mitigate against the confusion of the complex web of sustainability standards that currently exists. In order to succeed as global standards, the IFRS Sustainability Standards need to be adopted by the local authorities of countries and regions ...

ShareSoc Woodford Campaign Webinar 19th July – Report

  We received very strongly positive feedback from the 832 registrants to this webinar. A recording of the webinar is available here. The Missing 90% The webinar highlighted the Enigma of the missing 90% of claimants. We think up to 270,000 investors have yet to claim and we plan to issue a press release highlighting this and some of the points below: Nearly 300,000 investors lost money in the Woodford Equity Income Fund (WEIF)and now have an opportunity to claim compensation, but so far ...

Press Release 122:
UK shareholders welcome and support Treasury Report on Secondary Market Placings

  ShareSoc and the UK Shareholders’ Association, who represent individual investors in the UK, welcome the Treasury Report on Secondary Market Placings. The recommendations, when implemented, will help to create a more level playing field for individual investors. The report also highlights the problems of disenfranchisement faced by retail shareholders in nominee accounts and proposes new systems which will allow retail investors to participate on fair terms in placings and fund raisings. The UK Shareholders' Association said: “The UK Shareholders' Association fully supports ...

Baroness Altmann Announced as Keynote Speaker for ShareSoc Woodford Webinar – 19th July

Baroness Altmann, Consumer Finance champion, Member of the House of Lords and ex-Pensions Minister to speak at ShareSoc Woodford Webinar “The Cavalry is Coming” on 19 July at 4.30pm. Law firms Leigh Day and Harcus Parker joined forces and merged their claims via a Group Litigation Order (GLO*), announced on 15 June 2022. ShareSoc’s webinar on 19 July 2022 provides updates on progress, why the GLO is a big step forward and the impending deadline for joining a legal claim.  ...

Representing Individual Investors: proposed sustainability standards webinar on Thursday 30 June, 12:30 – 14:00

One of ShareSoc's primary functions is to represent individual investors. we do this by lobbying Government and Regulators about individual investor needs, and by campaigning for change from government, regulators, financial service providers. Alongside this we network, inform and educate investors though events, company presentations, SIGnet groups, educational content, newsletter, blogs, tweets and emails. These elements combine to make the investing experience better for our members. ShareSoc has been working hard for many years to improve its relationships, networking and influence with ...

Allenby Capital reports AIM Activity through end April 2022 – Markets quiet but not shut

After AIM’s biggest year for fundraises since 2007, 2021 was always going to be a hard act to follow. 2022 has so far been quiet but the market isn’t shut with funds still being raised for attractive opportunities. £99.7m of new money was raised on AIM through to the end of April 2022 across 11 new joiners to the market, this compares to the £598m raised during the comparable period in 2021 from 21 new joiners. The secondary fundraise market has ...