In July 2022, the Government established a Digitisaton Taskforce with the aim to drive forward the digitalisation of the UK shareholding framework by eliminating the use of paper share certificates and to improve the UK’s intermediated system of share ownership. This focus of the taskforce is based on the Secondary Capital Raising Review (SCRR) final report recommendations in July 2022.

The SCRR defined digitisation as encompassing the eradication of paper-based processes in the securities settlement infrastructure for capital markets and improvements to the UK’s current shareholding framework.

The Digitisation Taskforce, chaired by Sir Douglas Flint, produced an Interim Report in July 2023.

PIMFA is supporting members with the proposed and ongoing recommendations of the taskforce interim report findings. PIMFA has submitted a response on behalf of members and in collaboration with the relevant stakeholders from the Working Group.