Following Brexit, the EU SRD II was transposed directly into the FCA’s rulebook. It imposes certain disclosure requirements for asset managers and asset owners on engagement and investment strategies as investors in shares traded on regulated markets. This is to enhance the transparency for shareholders on the exercise of shareholder voting rights by firms that manage investor portfolios.
Pursuant to SRD II, Raymond James Investment Services Limited (“Raymond James”) must either disclose a shareholder engagement policy together with an annual report on how the policy has been implemented in the prior year, or provide a clear and reasoned explanation of why we are not making such disclosures.
Raymond James provides Discretionary Investment Management services to clients using a devolved investment proposition. This allows each Raymond James branch to determine their own investment strategy, which will include aspects of shareholder engagement. As a result, there is no single identifiable engagement policy at the firm level, as the services provided to Raymond James clients are not generally involved in active shareholder engagement in respect of those shareholder rights. Information about shareholder engagement can be obtained from respective branches where applicable.