When will PLC CEOs realise {that a} puff piece within the Sunday papers doesn’t drive their share value?
The Digitisation Task Force, led by the previous chair of HSBC Sir Douglas Flint, revealed its interim report back to zero fanfare final month, however this low-key initiative is significant in altering the City’s fortunes.
It was established in 2022 to “drive forward the modernisation of the UK’s shareholding framework”.
This includes ditching paper certificates, changing them with pursuits held electronically, and introducing obligations on these intermediaries figuring out helpful house owners and the exercising of shareholder rights.
It’s additionally exploring paying dividends electronically reasonably than by cheque. Heady stuff. It’s arduous to grasp why these fundamental steps have taken till 2023 to be thought-about (not but legally modified).
