ShareSoc News

ShareSoc response to Treasury UK Prospectus Regime Review Consultation

It looks like the €8m limit may be removed and also that it may become easier for individual investors to participate in fund raisings. In addition shareholder rights to prevent dilution will be strengthened. This consultation looks to be good news for individual investors. In our 10 page response to HM Treasury we said: We welcome this consultation paper. ShareSoc is a not-for-profit organisation with over 8,000 members. We represent the interests of 5 million individual shareholders and 12 million individual investors in the ...

ShareSoc responds to Primary Markets Effectiveness Review

In our 9 page response we said: We welcome this consultation paper CP21/21. ShareSoc is a not-for-profit organisation with over 8,000 members. We represent the interests of 5 million individual shareholders and 12 million individual investors in the UK. We are members of Better Finance who, together with our sister organisations in other countries represent individual investors throughout Europe. We are also members of the World Federation of Investors. ShareSoc Chair, Mark Northway, is also Chair of the World Federation of Investors. Our members ...

Dematerialisation of Shares – Certificates to be Abolished

There are in excess of 10 million investors who hold their shares in paper certificated form. So today's announcement by the Government is of interest. Lord Frost set out the below points about getting rid of paper share certificates today as part of a Brexit regulatory review. Dematerialisation of shares - Although the majority of shares are held in electronic form, a minority are held in paper form. It is more expensive and takes longer for holders of paper shares to trade them and there is ...

Stock Market Investment Needs More TV Promotion

ShareSoc Patron Lord Lee is continuing his high profile campaign to get more mainstream coverage of investments and better financial education. The FT has a large article about these issues written by John Lee himself, see https://www.ft.com/content/2445a940-da11-4d08-8e4c-e5ad70d6b583 headed- Stock market investment needs more television promotion - Onerous rules limit broadcasters and hamper financial education John writes: There is widespread agreement that financial education in this country is lamentable. This manifests itself in so many ways, from the fact that many people just leave significant cash deposits ...

Press Release 120:
ShareSoc calls for better Financial Education re investing in shares

ShareSoc calls for improved Financial Education: ShareSoc Patron Lord Lee has asked a Parliamentary Question about the obstacles that prevent the creation and broadcasting of more educational TV programmes on the subject of investing. Investing requires a base level of financial knowledge, but the subject is not covered by the school curriculum and is not easily learnt subsequently. Most of the available educational information about investing is produced by parties that are not independent. Too many websites ...

ShareSoc Upgrades Website Navigation Menus

We have now introduced improved navigation menus on the ShareSoc website. These make it much easier to find your way around, and you can reach the information you need with fewer clicks. We hope you will give it a try and discover more of the valuable resources available to members. Let us know what you think by using the Feedback tab at the bottom of the screen or by contacting us. Happy surfing! Mark Bentley, Director, ShareSoc

The FCA’s proposed Consumer Duty is welcomed by ShareSoc – Radical change is needed

ShareSoc has delivered an 8 page response to the FCA's consultation: A new Consumer Duty : FCA Consultation Paper CP21/13. We made the following key points: We welcome the proposed new Consumer Duty, which will set clearer and higher standards. For too long, retail consumers of financial products and services have been treated unfairly. Too often, the financial services industry has exploited weaknesses in the financial education, knowledge and behavioural biases of customers to charge excessive fees and deliver unsuitable products. We find it disappointing ...

Takeover Guidance

Lord Lee of Trafford and Patron of ShareSoc has been invited to meet the new chief of the Takeover Panel, Ian Hart. This follows Lord Lee's actions earlier this year including a Parliamentary Question and a major article in the Times. Backed by ShareSoc, he lobbied for companies to let their owners (their shareholders) know as soon as possible about potential bids, even if they have to say “there can be no certainty that an offer will ultimately be made”. He ...

Woodford Campaign Update 6
10 July 2021

1. Leigh Day, whose claim ShareSoc has endorsed, submitted their Letter Before Action (LBA) to Link in March and Leigh received a reply from Clifford Chance (on behalf of Link) in June, which they are now reviewing. 2. The FCA published a new report on Authorised Fund Managers (also referred to as ACDs), on 30 June. This highlighted the importance of the role Link should have played and in our view further supports the strength of the Leigh Day claim. Our comments ...

ShareSoc and UKSA response to FCA Discussion Paper DP21/1 – Strengthening our financial promotion rules

ShareSoc and the UK Shareholders Association made a joint submission on the FCA Discussion Paper DP21/1 Strengthening our financial promotion rules for high-risk investments and firms approving financial promotions. In a 9 page response to the FCA, we noted: ShareSoc and UKSA represent the views of individual investors (aka retail investors). We have combined over 8,000 members. This is an important discussion paper and we welcome the chance to submit our views. We would be happy to meet to give further background. We think there ...