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Friday 23 November 2012

Vince Cable responds to Kay Review

Business secretary Vince Cable has responded to professor John Kay's independent Review of UK Equity Markets and outlined his support for the changes that will affect the country's financial sector in the coming months.

"Many of us feel that in the past, our public companies and investors have focused on short-term profit at the expense of long-term value," said Dr Cable.

He added that the behaviour of the banks in the build-up to the latest financial sector was the ultimate example of this and although the Kay Review is ambitious, investors are on board with it.

Ministers will now work with their EU counterparts to end quarterly reporting, seek to set up an investors' forum to engage with financial firms and endorse good practice statements from company directors.

The government are also keen to ascertain whether these changes would be best implemented via legislation or just regulation. 

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Source: The Sales Executive News

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