Angry shareholder groups are calling on regulators to overhaul rules that mean UK companies can provide dramatically different information to investors in the U.S. and here.
Sarah Wilson, chief executive of respected shareholder advisory group Manifest, described it as ‘a system of information arbitrage’, giving superior knowledge to one group of investors over another.
At present, UK companies that raise money in the U.S. market are obliged to file a huge range of data, including details of their executives’ service contracts, as a matter of routine. In Britain, the same information is available only to shareholders and then under the most demanding of conditions.
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