In June, the Business Secretary, Vince Cable, asked Professor John Kay to lead an independent review of the effect of UK equity markets on the competitiveness of UK business. The review will seek to understand the incentives, motivations and timescales of all participants in the equity markets and how these affect the long term performance of UK companies.
On 15 September 2001, Professor Kay launched the review’s call for evidence which restates the ten broad questions contained in the terms of reference and sets out issues in relation to those questions on which it would welcome evidence. The consultation states that the Review’s advisory board would particularly welcome submissions that would assist it in establishing the factual background to the questions under consideration, whether in the form of statistical information or specific experiences, and those which make specific suggestions of recommendations which it might consider, or policy changes that the government, or relevant corporate governance or financial markets agencies, might consider.
The consultation remains open until 18 November 2011. The intention is to provide the Secretary of State with an interim report in February 2012, following which there will be a further opportunity for comment before the final report is presented in July 2012. For a copy of the consultation, please visit the Department for Business Innovation and Skills website by visiting http://www.bis.gov.uk/Consultations/kay-review-call-for-evidence-uk-equity-markets?cat=open