Companies Act 2006: Nominee Operators

Lord Stoneham of Droxford Excerpts

Tuesday 13th January 2015 Lords Chamber

[Baroness Neville-Rolfe]

My Lords, I was very pleased to see the extension of ISAs to AIM. I am delighted that these questions have been asked today so that we are debating the issue. I am sure that noble Lords will be pleased to hear that we are looking into exactly what is needed with a view to taking action.

[Lord Stoneham of Droxford (LD)]

Could the Minister tell the House what progress the Government have made on implementing the recommendations of the Kay report to encourage long-term share ownership and commitment, rather than simply trading in the stock market?

[Baroness Neville-Rolfe]

My noble friend raises a very important issue. The Government have made a sustained commitment to reform, working with companies and investors. We published a comprehensive progress report on that in October. Professor Kay also recommended that we look at the most cost-effective way for investors to hold shares electronically as individuals. That is one of the reasons why it is so important to explore that option.