InvestorHub and ShareSoc have announced a partnership to champion shareholder democracy in the UK. The partnership will see InvestorHub provide funding to ShareSoc, as well as support for a series of events designed to connect emerging public companies with individual investors.  

RNS announcement can also be found here: InvestorHub partners with ShareSoc - 07:00:14 06 Aug 2024 - News article | London Stock Exchange

On 30 July 2024, ShareSoc and UKSA made a joint response to the latest Financial Conduct Authority quarterly consultation CP24/11: FCA Quarterly Consultation No 44.

A ShareSoc member has brought an investigation into bitcoin miner Argo Blockchain to our attention. ShareSoc would be interested to know whether any other ShareSoc members have an interest in this case.

Shocking report about outrageous fees being charged by a discretionary fund manager to vulnerable clients, that the FCA has finally taken action on. Highlights the importance of financial education but also important that friends and relatives of vulnerable clients use their knowledge to avoid those clients being ripped off. Swifter action by the FCA would also have helped minimise harm. 

Some comments from the firm nominated to accept bulk transfers of SIPPs from failed SIPP administrators Hartley Pensions. Fingers crossed that they do a better job than previous administrators of those SIPPs. For some Hartley clients, this will be the second or third time their SIPPs have had to be transferred, after previous SIPP administrators have failed. ShareSoc sympathises with those clients, for whom the experience has been a nightmare and we will press the FCA to improve the process when things go wrong and they have to step in. 

So much for the government boosting share ownership, the stock markets etc. Tell Sid mk2 is canned. 

When even the auditors’ regulator, the FRC, warns against Private Equity being allowed to buy into auditors then you know it's a potentially bad idea. (Times subscription required) 

An interesting piece from Claer Barrett in the FT touching on the pros and cons (and costs) of active versus passive investing and of investor intervention. 
 
As is the trend in recent articles, Claer suggests that there may be a "diversifying" away from passive. Just think about that for a moment... (FT subscription required) 

The FT has a report from a retired professional fund manager on how he has adopted old fashioned techniques to invest and manage his portfolio, including execution only dealing, paper certificates and attending AGMs. 

Former BoE chief economist Andy Haldane argues that IFRS fair value accounting (vs historic cost accounting) has damaged investment and growth. (FT subscription required) 

Interactive Investor, the UK’s second biggest investment platform, said firms too often used corporate jargon that was too difficult for the average retail investor to understand. 

We are not recommending (nor not recommending) Tillit, but this article highlights many of the issues of charges, fees and performance in the platform and wealth management industry; and is worth reading. 

Muddied thinking will harm UK jobs and benefit other Oil & Gas producers. Calls for Government rethink on UK taxes. A stable regime and a more nuanced approach rather than blindly going all-out Net Zero, unlike any other Western economy. 

Morgan Stanley's 6th Annual Intern Survey reveals changing preferences among future business leaders that could affect the auto industry. Tesla's desirability has dropped to 11%, down from 14% last year, making it less popular than Mercedes and BMW. 

Also preference for electric vehicles (EVs) has also declined, with only 15% of interns preferring them, while nearly twice as many prefer internal combustion engine (ICE) vehicles. The survey, conducted with around 575 US summer interns, shows a significant shift in tastes, with a 2 to 1 preference for petrol powered cars over EVs. 

UK Individual Shareholders Society Ltd is a company limited by guarantee. Registered in England & Wales No. 7503076.
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