NSFM Participants Submit Comments to UK Government on Fostering a Long-Term Focus

In response to a UK Department for Business Innovation & Skills public consultation on A Long-Term Focus for Corporate Britain, NSFM participants have submitted a comment letter on the impact of short-termism in the financial markets.  The NSFM letter suggests exploring changes in asset manager contract mandates, providing additional guidance on interpretation of fiduciary duty, development of best practice codes, shifting burdens of proof in lawsuits involving fiduciary liability and adopting tax or proxy voting right changes as potential steps to address short-termism.  The letter was signed by 27 NSFM participants from the UK, Continental Europe, Africa, Australia and North America.

[BIS Consultation on Long-termism NSFM Response]