On 27 October 2014, BIS published a progress report on the Kay review. The key points contained in the report include the following:
- BIS will publish a consultation on how best to increase shareholder engagement;
- The remuneration policy requirements for directors developed by BIS will remain under review, and the implemented changes and their results will be reported on in the near future;
- A review of the platform for holding securities electronically will be undertaken as part of the government's implementation of the EU Central Securities Depositories Regulation;
- BIS agrees with the Takeover Panels' advice that there is no need for additional legal sanctions to enable the Panel to police its proposals with regards to post-offer undertakings and post-offer intention statements; and
- BIS has decided not to act to reduce short-term shareholders' roles during the bid process.
The progress report is available at:
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