A Vital Few Weeks

Dear LinkedIn,

Our team was extremely grateful for the overwhelmingly positive feedback we received for our #QCAannualconference last month. Having gathered so many key figures involved in stock market reform in the room at the same time, QCA members left after lunch encouraged that welcome change is coming.

You can read more of my?thoughts?on the day and the highlights – including conversations with the London Stock Exchange ’s Julia Hoggett and Sarah Rapson from the Financial Reporting Council - have been captured on our new podcast,?Growth Capital.

More podcast episodes are on the way soon, showcasing our members that operate across numerous industry sectors, including diagnostics, defence and digital – and that’s just the Ds. We’ll discuss the issues that matter to them, including #NED talent, #stampduty and #ESGreporting.

Of course it’s great to talk but anyone I meet in government and regulation is left in no doubt that the QCA will not be satisfied until we see concrete action to improve public market appeal.

Our carefully considered?submission?to the Financial Conduct Authority in response to its proposed changes to primary markets raises concern about the sponsor regime and onerous governance requirements for smaller companies captured in the new listing category. Thanks to our policy team and expert group members who spent many hours debating the best way forward.

To do this detailed work, we rely on the support of members, who benefit from our network, publications, training and events: large and small, in-person and virtual - about 50 a year. If you are not a member, please?join here?to take advantage of these benefits and help us with our work.?Alternatively, connect with our Head of Operations, Hayley Zeff , who can tell you more.

The next few weeks are vitally important. At Mansion House on July 10, the Chancellor must declare his hand on how to get #UKpensions behind #UK companies, particularly the growth stocks most lacking in liquidity. If he doesn’t, I suspect the Opposition will do it for him.

As I wrote in the?Evening Standard, it should be possible to deliver excellent returns for clients as well as adopting some home bias.

Finally, it is with great sadness that we note the passing of Brian Winterflood. Brian was a founding member in 1992 of the organisation that became the QCA, serving as our president from 2010 to 2016 and remaining engaged with our work throughout.

His great passion for smaller companies, wise counsel and humility leaves a lasting legacy. Our thoughts are with his former colleagues and family at this time.

_____________________

James Ashton