Discussion paper DP13/1 on transparency

Our response to the FSA/FCA

CarolAnne Macdonald
Policy, Risk and Research Division
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
19th April 2013

Dear CarolAnne

Re: Discussion paper DP13/1 on transparency I have pleasure in enclosing The Investor Relations Society’s contribution to the above discussion paper.

The Investor Relations Society’s mission is to promote best practice in investor relations; to support the professional development of its members; to represent their views to regulatory bodies, the investment community and government; and to act as a forum for issuers and the investment community. The Investor Relations Society represents members working for public companies and consultancies to assist them in the development of effective two way communication with the markets and to create a level playing field for all investors. It has over 650 members drawn both from the UK and overseas, including the majority of the FTSE 100 and much of the FTSE 250. Thank you for giving us the opportunity to participate in this discussion on transparency. Transparency is at the heart of best practice investor relations. The Society wholeheartedly supports the current disclosure and transparency regime and is a rigorous upholder of the principles of universal, proactive and prompt dissemination of information to shareholders. We believe that a company’s Board should provide the lead in engendering a culture of transparency within the organisation with the IR team supporting this in acting as a conduit and not as a gatekeeper.

In our contribution we respond to the red box-outs to varying degrees depending on which areas we consider to be of greater importance for our members. You will find our thoughts on the following pages.

Kind regards

Emma Burdett
Chair of The Investor Relations Society’s Policy Committee
020 7379 5151 eburdett@maitland.co.uk

Published 10 May, 2013

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