The International Investor Relations Federation (IIRF) has started the series of national meetings, called for by its members at last year’s IIRF conference and annual meeting, to follow up its survey on transparency of ownership. To date, meetings have been hosted by the IR societies of Italy, Norway, Sweden and the UK. The IIRF/Citigate project team has been presenting more detailed findings and discussing them – and potential improvements – with local investor relations professionals, regulators, registrars, custodians and investors.
According to Neil Ryder, who heads the project team, attendance levels at the meetings demonstrate the depth of interest in the topic and the research program. The high level of interest is also boosting responses to the online questionnaire, which has now reached 305 IR professionals in 26 countries, and reinforcing the initial findings that most IROs are dissatisfied with the systems available in their countries. The majority favor the IIRF coordinating a campaign to improve shareholder transparency.
Further meetings are planned in Denmark, Germany, the Netherlands and Switzerland and are being discussed with a number of other national societies. Through the meetings, the IIRF is collecting information on the different systems and the level of shareholder information available in each country. The federation’s findings will be presented at the next annual IIRF conference in Rome in September.
Voting survey launched
Lynge Blak, IIRF chairman, has now announced a new research initiative that will investigate voting systems and problems, and explore potential improvements to these processes. The study will be conducted this year in partnership with DF King, the global proxy specialists.
Blak says the IIRF’s board is delighted that some of the more far-sighted global suppliers to IR, like Citigate Financial Intelligence and DF King, are volunteering to help in extending the support the IIRF can offer its national society members. He also looks forward to adding further services to this support.
Over the summer, the IIRF plans to meet regional and international investor organizations and those involved in share trading, settlement, registration and voting. The aim is to test reactions to some of the suggestions for improving transparency that have been collected from members.
Following this consultation process, the IIRF will pull transparency and voting together as a core element of its Rome conference, with a major session debating the findings with the key bodies that would have to agree to any changes. ‘We believe the IIRF is now coming of age,’ comments Blak. ‘We spent our early years encouraging the formation of IR societies and providing a forum for them to get to know each other. Now we believe it is time to take a more active role in influencing the IR environment. The National Investor Relations Institute (Niri) in the US has shown how effective companies can be when they work together to influence the official and professional bodies that shape our world; we hope the IIRF can support its members by developing a similar influence where the issues are international in nature.’
Upcoming IIRF events
Shareholder transparency meetings
May 18, 2004 – Zürich, Switzerland
Shareholder transparency meetings
Frankfurt, Germany – details to be announced
2004 International IR conference
September 26-28, 2004 – Rome, Italy
For more information on events go to www.iirf.org
