“This is the dawn of a new era for shareholder rights”
AIC comments on Digitisation Taskforce Final Report.
The Association of Investment Companies (AIC) has responded to the publication of the ‘Digitisation Taskforce Final Report’. The Taskforce has put forward a “Bill of Shareholder Rights” which sets out the rights that intermediaries such as platforms should provide to shareholders. These include the right to receive company information and the right to participate and vote.
We’re delighted that the Taskforce’s recommendations are exactly aligned with our campaign’s goals…this is the dawn of a new era for shareholder rights.
Richard Stone, Chief Executive of the Association of Investment Companies (AIC)
Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “The Taskforce’s recommendations are a big win for shareholder democracy. They mean all shareholders on platforms will have the right to vote and receive information unless they opt out. The government has committed to acting on these recommendations before the end of the parliament. We look forward to seeing this in the next King’s Speech.
“We launched our ‘My share, my vote’ campaign because it’s vital that all shareholders can vote and receive company information, preferably electronically. We’re delighted that the Taskforce’s recommendations are exactly aligned with our campaign’s goals. Currently, platforms can choose whether they pass on voting rights and information to their customers or not. Many platforms do pass on voting rights and information, but this is too important an issue to be left to chance. This is the dawn of a new era for shareholder rights.”
The Taskforce’s Recommendations 8 and 9 include shareholder rights (voting and information) being offered by default unless the individual opts out, and Part 9 of the Companies Act being changed to make this a legal requirement.
Anyone wishing to sign the AIC’s ‘My share, my vote’ petition can do so here.
- ENDS -
Follow us on X @AICPRESS
Notes to editors
- The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs, collectively known as investment companies. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 295 members and the industry has total assets of approximately £262 billion.
- For more information about the AIC and investment trusts, visit the AIC’s website.
- Disclaimer: The information contained in this press release does not constitute investment advice or personal recommendation and it is not an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance. The value of investment company shares, and the income from them, can fall as well as rise. You may not get back the full amount invested and, in some cases, nothing at all.
- To stop receiving AIC press releases, please contact the communications team.
