TL;DRS:

They're proposing a new system in the UK that makes it mandatory to use a nominee to hold your shares for you (they present 3 other options but dimiss them pretty quickly).

A nominee is the named person on the asset. For example, Cede & Co is a nominee for when you hold US shares in "street name" (aka in a broker). As Cede & Co is the nominee, they are the legally recognised owner of the share. In a court of law you would have no enforcable proof that you owned that share.

Holding in Direct Registration is the only way to avoid this, but in this new proposed system, Direct Registration will not be an option.

Want to ensure UK GME investors can keep their shares in direct registration? Then everyone (yes anyone in the world) needs to comment on this UK proposal!

https://www.gov.uk/government/publications/digitisation-taskforce

​

• They are pushing for a new depository system that would make using a nominee (such as Cede, or a broker) mandatory. Check pages 14-16 of the interim report for these new depository models, and check page 23 to see them push for option 3:
  https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1168398/digitisation_report.pdf

​

• Or check my post for a quick breakdown:
  https://www.reddit.com/r/GMEJungle/comments/16aqdnn/this_uk_taskforce_is_discretely_pushing_for_a_new/

​

• Or if you'd rather listen to something we held a Twitter space call, that's also available on major podcast networks:
  https://twitter.com/i/spaces/1OdKrzOjlLyKX?s=20
  https://linktr.ee/takingstockpodcast

​

• It's also worth mentioning that Sir Douglas Flint who is running this taskforce is also the chairman of ABRDN PLC, which would benefit massively from the new depository model he's pushing for. There's a massive conflict of interest here:
  https://twitter.com/Bibic_Jr/status/1702282760532951188?s=20

​

• Computershare has made a response to this proposal and seeks to include direct registration as an option for any new depositroy model they move to. This is something I passionately agree on!
  https://content-assets.computershare.com/eh96rkuu9740/b6d2096ed675446da100e6b5ccbcbc92/1078b3957fdbedbdffbd67ee9278a9c3/SCRR-Digitisation-of-Shareholdings-Discussion-Paper.pdf

Template letters, simply copy and paste to speak out against this proposal!

• Computershare have even made a fantastic template letter and asks you to CC them in when emailing the taskforce!
  https://www.shareholder-feedback.com/en/home/

​

• And now WeTheInvestors have joined in, writing their own template letter!
  https://advocacy.urvin.finance/advocacy/we-the-investors-uk-digitization-task-force-recommendations

​

• If you only have a minute spare, then using these templates is a perfect way to be heard without having to use up too much of your time.
• If you have 5 minutes you may want to tweak the templates to match your voice and highlight what's important to you.
• If you have more time then you could write your own letter, using these templates as inspriation.
• And if you really want to go above and beyond then you can answer the 9 questions the taskforce lay out acoss the interim report. I've listed all of them at the bottom of my post here:
  https://www.reddit.com/r/GMEJungle/comments/16aqdnn/this_uk_taskforce_is_discretely_pushing_for_a_new/
• And lastly, if you're in the UK then you should contact your local MPs and start making some noise wherever you can!