A report from ShareSoc director Mark Bentley following on from the Endeavour Mining AGM on 30th May. 

Given that the General Election is underway, it might be appropriate to re-publicise ShareSoc's response to the Labour Party's recent review of financial services. We made some good points and could have made a lot more if time had permitted. 

Yet more wrongdoing uncovered at Home REIT tenants, with allegations that the trustees of a charity, that is now under investigation, made substantial payments from the charity to firms that they controlled. 

This is Money reports on teething issues on the National Grid rights issue. Seems like the UK has forgotten how to handle high volumes of individual investors being interested in investing. 

The advice industry is clearly not happy with the FCA's performance.

Architect of £100k ISA cap proposal becomes an official Labour Party candidate, but deletes his twitter post on the topic. Are they just hiding future tax plans? 

Surprising intervention by FRC chair against Proxy Advisors being able to recommend voting against Executive Pay. Surely it's the shareholders (aka owners) who get to decide, not a regulator? The City's and industry's arguments for ever higher executive pay ring hollow, when faced with the reality that most executives aspire to reach the top table. 

M&S chair says accounting changes that forced schemes to switch to bonds have reduced available money for UK stocks. Archie adds his voice to the ongoing debate. (FT subscription required)  

Is the London market regaining its fundraising mojo? Despite some encouraging signs of more activity, Craig Coben believes there is more work to be done to create a healthy ecosystem. On the supply side, the UK needs to create more home-grown champions and, on the demand side, more available capital particularly from pension funds. After the election British policymakers urgently need to jump-start the City’s capital-raising engine.  

More disappointment for investment trusts, as Ros Altmann's bill to reform the cost disclosure regime is lost as a result of the General Election being called. How long will investors have to wait for this long-overdue reform to be enacted? 

Stuart Kirk discusses whether investment trust discounts represent a bargain. 

Former ShareSoc Director, Paul de Gruchy, writes about the Geiger Counter Ltd (GCL) investment company; and about investment trusts and ETFs in general. 

The UK construction sector experienced its fastest growth in two years in May, with a PMI score of 54.7, beating expectations. A number above 50 represents growth, below 50 is contraction. Construction makes up approximately 6% of the UK economy. This is more good news for the UK, after its growth rebounded by 0.6% in the first quarter of 2024. This is the fastest quarterly growth rate in the G7.  

Fractional shares for US stocks get a 2nd (or is it 3rd) player in the UK, as Freetrade et al are joined by US-based Charles Schwab, though larger UK platforms ignore this possibility, even though it was allowed in the last Autumn Statement. 

8 retirement investing golden rules from a Nobel winning economist. 

Judge allows Exxon to pursue its case against dissenting shareholder Arjuna in dangerous precedent that would prejudice shareholder rights and require shareholders to argue their points of view in a courtroom rather than at their company's AGM. However, it is good news that Follow This are no longer having to defend this case.

Score line is - Private Equity and Hedge Funds 1-0 vs the SEC. As a Court rules against new-ish transparency rules and anti-favouritism edicts. 

Germany's stock exchange, the Deutsche Borse, is in the doldrums as badly as London, with its largest company upping sticks to the US and IPOs doing likewise.  

Credit Suisse bondholders are suing Switzerland for its outrageous behaviour in wiping out CS's AT1 bonds while leaving shareholders intact. 
 
If Quinn Emanuel has taken on the case, the indications are that the case is strong and that investors have a good chance of winning. 
 
And so they should!  

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