The Kay Review made a call for evidence on 15 September 2011 as it begins an independent review into investment in UK equity markets and its impact on long-term decision making and performance, following the Government’s announcement of the Review’s terms of reference in June this year4 . Professor Kay, who is leading the Review, has emphasised that the focus of the Review will be on corporate decision-making and corporate performance rather than corporate governance.

Among other matters, the Review is seeking evidence on the following issues:

  • whether Government policies which seek to encourage long-term investment by companies have been effective;
  • whether the rules governing disclosures of major shareholdings should be revised;
  • whether the measures to foster engagement between investors and companies are working; and
  • whether the increase in overseas ownership of UK shares has affected levels of engagement between companies and investors.  

Responses are requested by 18 November 2011. The Review aims to submit an interim report to the Government in February 2012, with a final report to be published in July 2012.  

The Kay Review of UK Equity Markets and Long-Term Decision Making: Call for Evidence available at: http://www.bis.gov.uk/assets/biscore/business-law/docs/k/11-1286-kay-review-call-for-evidence.pdf