Mini-tender Offers: Protection for Shareholders

Baroness McIntosh of Pickering Excerpts

Wednesday 15th July 2026 Lords Chamber

[Lord Stockwood (Lab)]

The Digitisation Taskforce and the access to data have many benefits, not only on promotions but for the issuers of shares to understand where exactly the shareholders are on their cap tables. We hope that that increased awareness of where shareholders and those transactions are will be covered by the current taskforce’s recommendations.

[Baroness McIntosh of Pickering (Con)]

My Lords, my noble friend has identified one category of vulnerable small shareholders. There is an increasing problem of scams, to which smaller shareholders are most at risk. What cyber security is being extended to that category of risk?

[Lord Stockwood (Lab)]

I am sorry, what was the question?

[Baroness McIntosh of Pickering (Con)]

Scams: fraudulent activity where people masquerade as a company wanting to buy back the shares—impersonation. Online shareholding accounts are particularly vulnerable to this type of activity.

[Lord Stockwood (Lab)]

Part of the FCA’s consumer duty is to ensure that consumers are well informed and protected. The Home Office has issued another policy on protection from particular scams. I am happy to write to the noble Baroness with the specific duties. The FCA has a consumer duty overall and that would fall within that somewhat.