Paul Myners, the author of the Myners review of UK institutional investment practice, said he is disappointed with the industry's lack of compliance with his suggestions regarding transaction costs and shareholder activism.
Speaking at the National Association of Pension Funds (NAPF) conference in Edinburgh, Myners said: "It is noteworthy that soft commissions are today greater than 12 months ago when the 10 points of the report were first produced."
