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?
An article by John Kay for the Financial Times reveals a nonsense in the Key Issue Document (KID) that is now mandatory for all funds. It raises a question mark over the competence of all those involved in its design and approval.
UKSA has signed a letter to the Financial Times exposing once again the hole at the heart of modern accounting: the loss of the prudence principle.
In this case, the weakness is in the accounting standard governing revenue recognition. In other cases (and maybe here also) it has been in acquisition accounting. Who knows what else is hidden away in the ungainly structure that has grown over the years around a flawed set of premises?
The latest edition of the Transparency Times carries a story on Northern Rock and Dennis Grainger, Chairman of the Shareholders' Action Group.
The article can be found on pages 15 onwards by clicking this link: https://issuu.com/andyagathangelou/docs/transparency_times_november?e=2…
UKSA identified the Persimmon LTIP as outrageous when it was first approved in 2012. This is more than a single-company story. It also shows what groups of individual shareholders could contribute to corporate governance were they not emasculated by the erosion of their rights in favour of conflicted institutional and corporate interests.Join UKSA to support the campaign against egregious LTIPs.
As reported in today’s Financial Times (2 December 2017) an advice scandal is brewing around the Tata Steel pension fund. Some advice firms have capitalised on pensioners’ ignorance by advising transfer into high risk funds with transparently unsuitable investment profiles, undeclared fees and undeclared conflicts of interest.
UKSA is keen to build a good relationship with the Financial Reporting Council (FRC) and contribute fully to the work that it does. We believe that this is best done by developing a relationship which is based on objectivity and constructive feedback - in both directions. Sometimes that feedback is critical.
Who audits the auditors? The Financial Reporting Council is the organisation responsible for overseeing the quality of audit work carried out by auditor. As such it plays a crucial role in helping to protect your wealth. This is a unique opportunity for members only for a direct dialogue with the FRC. The FRC, for their part, are keen to hear the views of serious individual investors.
UKSA calls for independent thinkers to join us to change for the better the savings investment chain.
This may take a generation - too many vested interests, contributing too much in tax revenues, will make it so – but is vital to the long-term economic health and social cohesion of the UK.
Renewing your UKSA membership is quick and easy, ensuring uninterrupted access to all the advantages of membership.
