Long Termism, Stewardship and Growth: Are Markets Meeting the Challenge?

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A major today, 17 July, hosted by the Financial Reporting Council (FRC) will hear views from speakers including Sir Win Bischoff, FRC Chairman and Sir Jon Cunliffe, Deputy Governor of the Bank of England, on the changing role of the capital markets in supporting UK economic growth.

The conference will address how capital markets are, or are not, fostering long-term investment and question whether investors are part of the problem or the solution. The debates will address whether the UK’s regulatory system is conducive to a flourishing market for risk capital whose dynamic channels funds with economic efficiency. It will address the role of equity today and its future, and will cover issues of trust and governance of UK companies. Speakers will focus strongly on the needs and the role of investors today and in the future.

Among the other speakers discussing these important issues are, Katja Hall, Deputy Director General CBI, John Millar, Head of Primary Markets LSE, Mark Fawcett, Chief Investment Officer NEST, Robin Freestone, CFO Pearson, Helena Morrissey, Chief Executive Newton Investments and Melanie McLaren, Executive Director Codes & Standards FRC.

Harriet Green, CEO of Thomas Cook will close the conference with an inspirational account of the ongoing turnaround of Thomas Cook, to illustrate the importance of trust and confidence in the market for encouraging growth.

Sir Win Bischoff will say this morning:

“The rise of the publicly listed company is probably the most visible manifestation of our modern free-market system. For the most part, these companies have been engines of unprecedented innovation and prosperity. However, some of them have also been at the centre of some of the biggest scandals of the recent financial crisis.

Our starting point for restoring trust is that the delivery of long-term, sustainable returns to investors – including retail investors saving in ISAs and pensions as well as larger institutions, pension funds and so on - is a powerful demonstration that the system is working as it should. In turn this will attract more capital to UK markets, allowing companies to expand and thrive.”


Notes to editors:

  1. The FRC is responsible for promoting high quality corporate governance and reporting to foster investment.  We set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work.  We represent UK interests in international standard-setting.  We also monitor and take action to promote the quality of corporate reporting and auditing.  We operate independent disciplinary arrangements for accountants and actuaries; and oversee the regulatory activities of the accountancy and actuarial professional bodies.

     

  2. All Press enquiries should be directed to: Peter Timberlake, Head of Communications, on telephone: 020 7492 2397 or email:p.timberlake@frc.org.ukOr to Sophie Broom, Communications Executive, on telephone: 020 7492 2395/ 07771 808464 or email:s.broom@frc.org.uk

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