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That's because there are no "local UK organisations" that can do the job. There are no UK global custody banks.

The provision of custody services has been overrun by predominantly American providers using a predominantly American model, with the notable exception of one. But this is why share voting is so deficient, because the identity of investors voting is masked through a pooled nominee (the US model), and removes their choice over who it is that processes their voting for them.

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