ShareSoc News

Policy and Campaigns – Progress Update Jan 2021

Below is a short summary of what has been done in January 2021. We have been very active on many issues on behalf of members and all individual investors. Policy and Campaigns - January update to members

Woodford Campaign Update 1: Jan 2021

Below is the first of what we plan to be regular updates to members advising them of what we have done in this very important campaign. Woodford January NEWSLETTER

ShareSoc Seeks “Head of Volunteering”

ShareSoc's board is dealing with many projects and tasks - more than we can handle. For our Society to be most effective, we need to make better use of the services of the many kind members who have offered to help. We are therefore looking to recruit a voluntary Head of Volunteering to coordinate this process. If you are interested in taking on this role, you can find further details and an application form here: https://firstflightnonexec.com/candidates/available-roles/437-role-1121-head-of-volunteering-required-for-sharesoc-an-influential-not-for-profit-society-for-investors Thanks for your attention. Mark Northway, Chairman, ShareSoc

Press Release 116: Requirements of public companies’ directors regarding takeover approaches

Press release 116 - Requirements of public companies’ directors regarding takeover approaches Joint Press Release from ShareSoc & UKSA on behalf of individual investors ShareSoc and UKSA recommend The Takeover Panel: Review their current rules, which disadvantage individual shareholders and all those who are not privy to a potential bid. Sets out a clear and orderly framework for takeovers, including measures to ensure fairness to shareholders and other stakeholders. Consider issuing Panel guidance for assessing when talks ...

ShareSoc and UKSA Response to FCA Consultation on Guidance for Insolvency Practitioners

On 7th December 2020 the FCA published draft guidance for Insolvency Practitioners (IPs) on how to approach regulated firms and launched a consultation on that proposed guidance. This is of particular interest to individual investors because it guides the actions of IPs involved in Special Administrations, which occur when a broker fails. ShareSoc has been concerned about the Special Administration Regime (SAR) since we got involved with the Beaufort case. Clients with substantial portfolios were threatened with significant "haircuts" to their holdings, to ...

Press Release 115: ShareSoc Sends Open Letter to Aviva

Press release 115 - ShareSoc Sends Open Letter to Aviva ShareSoc is concerned about the remuneration review which was announced after the FCA censured Aviva, and is urging Aviva to claw back bonuses paid in 2018 and ensure cultural change at Aviva occurs. ShareSoc has warned Aviva in an Open Letter (see copy here) that a trivial remuneration adjustment would not be acceptable. Media contact: Cliff Weight, ShareSoc Director. ShareSoc, the UK Individual Shareholders Society ShareSoc is the UK's largest retail shareholder organisation acting in all areas of ...

ShareSoc AGM 2020 – Video recording

Please find below the recording of ShareSoc's 2020 AGM.

Press Release 114 : HM Treasury’s Call for Evidence re Review of UK Listing Rules

Press release 114 - Joint Press Release from ShareSoc & UKSA on behalf of individual investors: HM Treasury’s Callfor Evidence re Review of UK Listing Rules ShareSoc and UKSA recommend: AIM should be regulated by the FCA, not the LSE. Do not relax standards in the UK. We need to stop even more frauds, scams and scandals. Remove €8m limit in placings; and open up placings to all. The LSE has a poor track record on enforcement and is ...

UKSA and ShareSoc response to the IASB’s consultation on Business Combinations

On 31 Dec 2020 the UK Shareholders Association and ShareSoc submitted a joint response to The IASB’s Discussion Paper on Business Combinations – Disclosures, Goodwill and Impairment (DP/2020/1) Our key messages are: We support the Board’s overall objective of enhancing disclosure on acquisitions and their subsequent performance. Current disclosure is extremely unsatisfactory. As a result we agree with the Board’s preliminary views set out in paragraph IN9 with the modifications and qualifications set out in this letter. We would also argue that ...

FCA Consultation
Consumer Investments Market Call for Input
ShareSoc’s response

A ShareSoc News item by ShareSoc Director Cliff Weight In our response we highlighted: The need for the system as a whole, including regulation, to work better for consumers We welcome the clear recognition in the CFI’s Foreword that there is indeed a problem - that there are suitable and inexpensive products, but people do not use them enough. In addition, that firms are not generally keen to promote them and that progress is slower than the FCA would like. The market ...