Eumedion co-signs ICGN letter on overhaul of UK corporate governance rules
News ยท 09-02-2024
Eumedion has co-signed the International Corporate Governance Network (ICGN)'s Statement raising concerns from investors globally on regulatory proposals which could weaken UK corporate governance standards and shareholder protections.
ICGN has cautioned against proposals, issued by the UK Financial Conduct Authority, to replace the current ‘standard’ and ‘premium’ stock exchange segments with a single listing category, to remove shareholder votes prior to significant transactions and related party transactions, and allow dual-class shares with very few investor protection safeguards. ICGN contends that these proposals will expose investors to undue risk, with potentially significant implications for underlying beneficiaries including pensioners, insurance, and retail investors’ savings.