Listed companies' annual general meetings are set to become far more entertaining in future thanks t...
Listed companies' annual general meetings are set to become far more entertaining in future thanks to the new recommendations for increasing shareholder activism announced today by the Institutional Shareholders' Committee.
The committee has developed the recommendations for institutional investors to ensure they take a keener interest in their investments, including stepping in where necessary to make sure that companies whose shares they own are being managed correctly.
Encouraging shareholder activism is the industry's response to government threats to legislate regulations on behalf of the millions of smaller investors whose money is being invested by institutions.
The ISC represents the Association of British Insurers, the Association of Investment Trust Companies, the Investment Management Association and the National Association of Pension Funds.
Both the Treasury and Department of Work and Pensions today say they welcome the new recommendations by the ISC, but warn that action must be seen to be taking place.
A Treasury spokesman says that the first opportunity to gauge the success of the ISC will come in March, when Treasury officials review the implementation of the recommendations made by Paul Myners in his previous review of financial services.
Myners encouraged more shareholder activism, and the Treasury and Department of Work and Pensions earlier this year stated they would seek to legislate change if the industry did not come up with sufficient rules of its own.
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