Author : Great Britain: Law Commission
Publisher : The Stationery Office
Page : 302 pages
File Size : 41,9 Mb
Release : 2013-10-28
Category : Business & Economics
ISBN : 010851272X
Law Commission: Fiduciary Duties of Investment Intermediaries: A Consultation Paper - Consultation Paper No 215 by Great Britain: Law Commission Pdf
The consultation paper Fiduciary Duties of Investments Intermediaries: A Consultation Paper follows on from the Kay Report on UK Equity Markets and Long Term Decision Making (see below), and uses pensions as the example, tracing a chain of intermediaries from the prospective pensioner/saver to the registered shareholder of a UK company. There are well established duties on pension trustees to act in the best interests of scheme members, and it looks at how far these duties require trustees to maximize financial return over a short time scale, and how far trustees can consider other factors such as environmental and social impact. The consultation asks: Whether the law is right to allow trustees to consider ethical issues only in limited circumstances? Whether the legal obligations on trustees are conducive to investment strategies in the best interests of the ultimate beneficiaries? and if not, what specifically ne