AIC bids to change company law with ‘My share, my vote’ petition launch
April 10, 2025
The Association of Investment Companies (AIC) launched its ‘My share, my vote’ campaign petition on 7 April that calls for a change to company law.
The AIC’s campaign is pushing for amendments to Part 9 of the Companies Act 2006, which would require nominees to pass on company information and voting rights to underlying investors unless the customer opts out.
This proposed change would ensure that all investors or their advisers are able to vote their shares without obstacles or additional charges.
At present, some investment platforms do not pass on shareholder rights, such as the right to vote and attend meetings, or they may charge high fees for enabling them. One potential consequence is that retail investors may be prevented from airing their views on the future of the company and the investments they make.
“All shareholders must be able to vote – it’s their fundamental right,” said Richard Stone, chief executive of the AIC.
“The Companies Act currently states that nominees, such as platforms, may pass on company information and voting rights. We believe that’s not good enough. These rights must be passed on and the law should be changed accordingly.”
The AIC also calls for amendments that would ensure that when a customer chooses to opt out, the nominee is required to periodically confirm if this is still the customer’s preference, and also that any customer who has opted out is able to opt back in on demand.
The campaign has won support from The Baroness Altmann CBE, James Ashton, chief executive of the Quoted Companies Alliance (QCA), Mark Northway, director of ShareSoc and Chris Kinder, CEO of the Investor Forum.
Kinder said: “The Investor Forum believes that the exercise of shareholder rights is a fundamental part of the stewardship of one’s assets. Companies need to hear from all of their investors – retail and institutional – and be able to engage with them in the most efficient way.”
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Last Updated: 10 April 2025