Financial Services: Shareholder Engagement

Lord Dubs Excerpts

Wednesday 19th January 2011 Lords Chamber

[Lord Sassoon]

My Lords, there is a fine balance to be struck between making sure that shareholders get all the information they require on the one hand, and on the other hand allowing companies to take advantage of electronic and other media to disseminate information in a way in which an increasing proportion of shareholders wish to receive that information and which may be environmentally friendly if it does not require large amounts of paper to be used. I am glad that the FRC is grappling with that issue.

[Lord Dubs]

Does the Minister agree that many shareholders have no voice in this at all because they are shareholders through pension schemes or through owning PEPs? These shareholders can exercise no influence. Can the Government think of doing something about that?