From Mr Alan MacDougall.
Sir, There is something faintly absurd in an argument against voting disclosure that says most people are doing it and therefore it does not require compulsion ("Investors should not be forced to disclose their votes", Peter Montagnon, August 24). If it becomes compulsory then what is the problem? Unless, of course, there is something to hide.
Voting disclosure is part of a growing range of measures that all those in a fiduciary capacity should be required to implement. These measures - termed "investor governance" - recognise that in today's developed capital markets the power of institutional investors to affect corporate wealth-creation, standards of business conduct and market integrity are matters of public interest. The Myners' Principles, enunciated by Paul Myners in a report in 2001, are a case in point.
See full Financial Times letter.
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