Myners calls for electronic voting by year-end

FTSE350 companies, institutional investors and intermediaries are being called upon to introduce electronic voting capabilities by the end of this year, under a government-supported review by former Gartmore chairman Paul Myners.

  0 Be the first to comment

Myners calls for electronic voting by year-end

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Myners says that structural weaknesses in the current system need to be overhauled and upgraded, and has called upon market participants to make electronic voting universally available.

Previous studies have highlighted the inadequacies of the current system for voting shares in UK companies, citing inefficient manual processing and a consequent lack of transparency.

In January 2003, Crestco introduced a system by which voting intentions could be recorded electronically, but take-up has been disappointing.

While not pointing fingers at particular participants in the chain, Myners states: "I propose to revisit this subject in a year's time to assess the extent to which the relevant participants in the voting process, particularly the proxy voting agencies and custodians, have introduced electronic voting capabilities."

Sponsored [Impact Study] 2024 Fraud Trends in Banking, Insurance, and Beyond

Related Company

Keywords

Comments: (0)

New Report – The Future of Embedded Finance in Africa 2025Finextra PromotedNew Report – The Future of Embedded Finance in Africa 2025