FSA wants tough stance on non-voting investors
A leading City regulator has called for institutional investors, who do not exercise their right to vote at annual company meetings, to be 'named and shamed'.
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Speaking at the International Corporate Governance Network annual conference in Rio de Janeiro last week, Ken Rushton, head of the Financial Services Authority’s listings review, told delegates only 60% of UK shareholders voted at agms, the Financial Times reported.
‘There is a danger that unless the investment community does something to improve that figure, we may have to see regulation introduced,’ Rushton said.
Rushton said he believed electronic voting would improve the number of votes registered.