The Carillion collapse was entirely predictable to experienced private investors. As were the reasons for it. Perhaps that’s why special interests have ensured that we are excluded from consultations and denied voting rights?
UKSA’s members’ magazine, 'The Private Investor', highlighted accounting, reporting and audit failures in September, updated the story in November and summarised the sad consequences in January.
Government and the regulators are ignoring the knowledge and experience that private investors would bring to counteract special interests. Private shareholders were initially excluded from the 'Stakeholder Panel' set up in response to the Green paper on corporate governance reform until we complained. Recent regulations on Key Issue Documents also illustrate departures from common sense which private investors would have immediately spotted, see UKSA news.
UKSA continues to fight for representation on consultative and regulatory issues until such time as corporate governance deficiencies are corrected (see UKSA's response to Green Paper). We also work closely with other parties, for example in bringing the lessons of audit and reporting failings at Carillion to a wider audience, see UKSA news.
