DIGITISATION TASKFORCE

The Interim Report of the Digitisation Taskforce was published on 11/07/2023.

The proposed model is that all currently certificated shareholders would need to move their shareholdings into a broker/nominee structure.

We are reviewing the report and engaging with other stakeholders including a sample of clients with a view to submitting a response to the report before 25/09/2023. We will publish a link to our response here.

We endorse the principle that the issuance of share certificates be discontinued.  However, our initial view is that for small and mid-sized quoted companies the proposed solution of moving all certificated shares to the CSD (CREST) to be intermediated and administered through a nominee is inflexible, impractical and will incur unnecessary costs for these Issuers and their Investors.