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AIC writes to FCA raising regulatory concerns over Saba campaign and retail shareholder protection
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investmentweek.co.ukThe association's letter to the regulator focused on two main areas: the role of platforms under Consumer Duty as well as the importance of board independence for investment trusts. Proxy voting advisers side with Herald board to vote against Saba Capital AIC chief executive Richard Stone said the trade body is «concerned» that current regulations «do not protect the interests of retail shareholders». Retail investors, who hold a high percentage of shares in the investment trusts targeted by Saba, have to rely on investment platforms to receive information about the proposed change...
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