Subject: Urgent Appeal for Advocacy on Shareholder Rights and Digitization Proposal

Subject: Urgent Appeal for Advocacy on Shareholder Rights and Digitization Proposal

Dear [Local MP's Name],

I trust this message finds you well and fully engaged in your responsibilities representing our community.

I'm writing to highlight a matter of significant concern affecting shareholders in our constituency and garnering global attention. The UK Digitisation Taskforce's proposal, currently under discussion with HM Treasury, aims to digitize the securities trading system, impacting ownership, rights, and investor participation.

Please find the relevant reading for said proposal here: https://www.gov.uk/government/publications/digitisation-taskforce

The shift towards a Central Securities Depository (CSD) model, mandating the transfer of legal ownership to a nominee, is a major concern. This alteration could fundamentally change shareholder dynamics, making us beneficial owners rather than retaining crucial legal ownership.

Additionally, the opt-in requirement for services and associated charges raises questions about the overall impact on shareholder empowerment. The proposed model introduces a separation between legal and beneficial ownership, potentially limiting our ability to actively participate in decision-making.

The "opt-in" approach for intermediaries to provide a "baseline service" further raises concerns about alignment with shareholders' best interests. This contradicts the proposal's alleged objective of benefiting shareholders.

As a concerned taxpayer and shareholder, I urge your advocacy to ensure that proposed changes consider the rights and interests of individual investors. Specifically, shareholders advocate for preserving a direct registrar system, maintaining shares on the primary registrar under our legal names. This preserves a direct link between shareholders and their investments, upholding the integrity of ownership rights.

The importance of holding shares in our own legal names cannot be overstated; it is a cornerstone of shareholder autonomy and accountability. Your support in championing these critical aspects will contribute to a fair and equitable outcome for shareholders globally.
I kindly request your support in highlighting these concerns to relevant authorities, notably HM Treasury and Douglas Flint, the chairman of the Taskforce. This ensures that constituents' voices are heard in ongoing discussions about the digitization proposal, aligning with principles of fairness and equity in our democratic system.

Thank you for your attention to this matter. With your advocacy, we can work towards a solution that safeguards the interests of shareholders in our community.

Sincerely,

An Invested Shareholder