IR Society News
The latest news and views from the IR Society
IR Society News 9 February, 2024
Contribute to Informed 122 - Spring 2024
Informed magazine is the quarterly journal of the IR Society and our members continue to rate it highly as one of the most valuable resources we provide. We are asking for contributions for the Spring 2024 edition, to be published in mid-March.
IR Society issues Best Practice Guidelines 2024
As the market and technology evolves and investor demographics and expectations change, the Best Practice Committee refines these guidelines so that they continue to be an ongoing tool to help Investor Relations Officers tackle new challenges and improve their current skills.
Orient Capital Continues as IR Society Sponsor for 2024
The IR Society is delighted to welcome Orient Capital once again as a sponsor for 2024!
Society submits evidence on Scope 3 emissions reporting
This IR Society response draws on the findings from recent member research on Scope 3 and SECR reporting.
IR Society News 8 December, 2023
IR Society Office Move
After almost 10 years in our current home in Coleman Street the IR Society will be moving to a new office early in 2024.
The IR Society Celebrates Best in Class IR
At Tuesday night’s annual Investor Relations Society Best Practice Awards dinner at the Royal Lancaster, London, the IR Society celebrated the achievements of those companies demonstrating their commitment to delivering best-in-class investor and stakeholder communications.
IR Society News 10 November, 2023
2023 Member Survey Key Takeaways
The results of the Member Survey, conducted in September every year, are incredibly important in underpinning our planning for the year ahead. Thanks once again to everyone who completed the survey.
Society responds to the Voluntary Code for ESG ratings agencies
This IR Society response draws on the findings from the ESG data/ratings survey carried at Easter this year among our IRO Members, which illustrate a level of dissatisfaction with the current quality of engagement between companies and ESG data and ratings agencies. We hope this principles-based Voluntary Code of Conduct that is being developed for providers of ESG data and ratings will be helpful for our members, given the amount of time/resource IR departments currently spend dealing with these agencies.
Society responds to the FRC’s Corporate Governance Code proposals
In this IR Society response, which draws on the findings from recent member research on the FRC's proposals of most relevance to IROs, the Society is generally supportive of the proposed reforms, but calls for more flexibility and less prescription in certain areas, for example, audit committee oversight of narrative and sustainability reporting given many corporates already have a sustainability committee. The Society expresses support for increased transparency around malus and clawback arrangements, although calls for more clarity around disclosure of their ‘usage’. The Society also identifies several areas where more detailed guidance would be helpful, including ‘good’ outcome reporting, ‘significant’ appointments for ‘over-boarding’ disclosures, audit committee engagement with shareholders and oversight of narrative/sustainability reporting.
Society responds to the FCA Listing Rule Proposals in CP23/10
In this IR Society response, which draws on the findings from recent IRO member research on the FCA's proposed changes to the Listing Rules and on current levels of investment research in the UK, the Society was generally supportive of the proposed reforms given most IRO respondents thought the FCA proposals would reduce regulatory barriers for companies and bolster UK competitiveness. However, the Society highlights concern that a lack of shareholder approvals for major transactions could lead to significant legal and advisory costs in the early days, until a more streamlined approach based on successful transactions establishes best practice, and that a generous transition period could be needed for current standard listings to allow them to comply with the more onerous ‘single category’ continuing obligations. The Society also mentions that liquidity, depth of markets, and comparable peers are thought of by IRO respondents as the most important factors in deciding where to list the proposals, with regulation and valuations also seen as significant factors. The response also highlights some more significant issues that the Society believes may also influence the attractiveness and competitiveness of the London markets, including the UK market’s sensitivity to Directors' remuneration and compensation structures, the quality and timeliness of Investment Research, the need to encourage funds flow into UK asset managers, the suggestion of establishing a framework that better enables companies to identify all short-sellers so that they can engage with them (if they wish), and the UK’s overlapping disclosure and filing obligations which could benefit from being streamlined and simplified.
Society responds to the ESG data and ratings HM Treasury Consultation
In this IR Society response, which draws on the findings from recent IRO member research on ESG data and ratings, which underline the importance of ESG ratings to corporates, illustrate a level of dissatisfaction with the quality of engagement between companies and ratings agencies, and indicate strong support for their regulation (90% of respondent IROs think they should be regulated by the FCA). The response also: • recommends that the UK regime is based on recommendations from IOSCO, to avoid regulatory arbitrage across jurisdictions; • calls for consistency and harmonisation with overseas equivalent regulations eg the EU’s recently published Proposal for regulating ESG ratings providers; and • recommends an appropriate transitional period, a phased approach so that smaller agencies have a longer transition period and an ongoing initial ‘start up’ period for new providers.
IR Society News 30 June, 2023
The IR Society announces appointments of new Chair and Deputy Chairs
The Investor Relations Society (the Society) is pleased to announce that Douglas Radcliffe, Group Investor Relations Director at Lloyds Banking Group and former Deputy Chair of the Society has assumed the role of Chair
Findings from 2023 Society IRO Survey on ESG Data and Ratings
Recent survey of IRO members provides insight into their experiences with ESG data and ratings agencies.
Signalling sustainability amidst uncertainty
Katya Gorbatiouk of the London Stock Exchange outlines her thoughts on the direction of travel for sustainability communications, the key areas where transparency is expected by capital providers and the implications for the mission-critical role of the IR function.
IR Society 2023 Best Practice Awards entries open today
The IR Society, the UK’s professional body for investor relations practitioners, today launches its 23rd Annual Best Practice Awards (the ‘Awards’).
Society responds to the Review of Investment Research
The IR Society response to this call for evidence indicates that it will be conducting some further member research on current levels of coverage, and also refers to our 2021 MIFID II survey that illustrated the impact on sell-side coverage and quality, the reduced role of corporate broking services and the significant increase in direct interaction between IR departments and investors which has ensued.
Society responds on the proposed UK Transition Plan disclosure framework
The IR Society response supports the proposals but calls for more flexibility in the way transition plans are published so that companies are permitted to include them in their annual report or other relevant reports (eg sustainability or climate reports), instead of being required to publish them as standalone reports.
Society responds to the FRC Audit Committee Standards
The IR Society response to the FRC seeking liaison to help shape the upcoming reforms aimed at increasing shareholder engagement with audit and risk.
IR Society News 23 November, 2022
The IR Society Celebrates Excellence in IR at The Landmark, London
The IR Society celebrated the annual Investor Relations Society Best Practice Awards dinner at The Landmark, London,on Tuesday 22 November.
Society responds to Proposed European Sustainability Reporting Standards
The IR Society response to the Proposed European Sustainability Reporting Standards issued by EFRAG.