Sarasin signs ICGN statement

Sarasin signs ICGN statement on High Standards of Corporate Governance and Investor Protections as Pre-requisites for UK Capital Market Competitiveness and Growth.

Sarasin has signed a collective statement calling for corporate governance standards and shareholder protections to be maintained in UK-listed companies.

Attracting signatories from more than 50 investment managers and investor groups, the statement was coordinated by the International Corporate Governance Network (ICGN).

Signatories were responding to the Financial Conduct Authority’s (FCA) intention to introduce

“the most far-reaching reforms of the UK’s listing regime in three decades”, including:

A single listing category in place of the current ‘standard’ and ‘premium’ segments
A more permissive approach to dual-class share structures, with less shareholder protection
Removing shareholder votes prior to significant transactions and related-party transactions.

Signatories highlighted the importance of maintaining the UK market’s international reputation for high-quality listing and corporate governance standards.

They also expressed concern that the FCA’s proposals could expose investors to undue risk, and could be particularly problematic for pensioners, retail investors and people using retail insurance products.

The full statement is available here.

Important information

This document is intended for retail investors and/or private clients. You should not act or rely on this document but should contact your professional adviser.

This document has been issued by Sarasin & Partners LLP of Juxon House, 100 St Paul’s Churchyard, London, EC4M 8BU, a limited liability partnership registered in England and Wales with registered number OC329859, and which is authorised and regulated by the Financial Conduct Authority with firm reference number 475111.

This document has been prepared for marketing and information purposes only and is not a solicitation, or an offer to buy or sell any security. The information on which the material is based has been obtained in good faith, from sources that we believe to be reliable, but we have not independently verified such information and we make no representation or warranty, express or implied, as to its accuracy. All expressions of opinion are subject to change without notice.

This document should not be relied on for accounting, legal or tax advice, or investment recommendations. Reliance should not be placed on the views and information in this material when taking individual investment and/or strategic decisions.

The value of investments and any income derived from them can fall as well as rise and investors may not get back the amount originally invested. If investing in foreign currencies, the return in the investor’s reference currency may increase or decrease as a result of currency fluctuations. Past performance is not a reliable indicator of future results and may not be repeated. Forecasts are not a reliable indicator of future performance.

Neither Sarasin & Partners LLP nor any other member of the J. Safra Sarasin Holding Ltd group accepts any liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this document or any part of its contents. The use of this document should not be regarded as a substitute for the exercise by the recipient of their own judgement. Sarasin & Partners LLP and/or any person connected with it may act upon or make use of the material referred to herein and/or any of the information upon which it is based, prior to publication of this document.

Where the data in this document comes partially from third-party sources the accuracy, completeness or correctness of the information contained in this publication is not guaranteed, and third-party data is provided without any warranties of any kind. Sarasin & Partners LLP shall have no liability in connection with third-party data.