Review is looking at how “investors, shareholders, regulators and the boards of UK quoted companies can best serve the long-term interests of British business and the economy”
UPDATE 23 July 2012: The final report of the Kay Review has been published today. See this post.
Professor John Kay has today published an interim report on his independent review of investment in UK equity markets and its impact on company performance and governance. The interim report is here. The Kay Review page on the BIS website is here and BIS’s press release on the interin report is here.
The interim report discusses a wide range of issues affecting equity markets in the UK, including:
“· The purpose of equity markets, both economically and in facilitating stewardship and corporate governance
· The company and the board, including Directors’ duties, takeovers, voting rights and executive pay
· Performance measurement and the effect of financial reporting
· Market practices and corporate governance standards
· Asset Management, including the role of regulation in driving investment behaviour and the Stewardship Code
· Intermediation in the investment chain.”
Professor Kay will present his final report, including recommendations for action, to the Business Secretary in the summer.
See also: Kay Review: Explanatory speech and call for evidence
The Kay Review: UK equity markets and the competitiveness of UK business
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