Over 90% of members (with profits policyholders - i.e. the owners) of Standard Life have voted in favour of new rules to make it harder for the insurance giant to de-mutualise. The new rules will make it harder for so-called 'Professional Carpetbaggers' to apply for and gain board appointments.
There are various new rules including things like the Board being able to reject requests for 'Special General Meetings' which is where these attacks sometimes take place. What does it mean? Really, it does not mean that much. It is still the members who have control with their votes and as such if a big enough force wanted to de-mutualise then Standard would be forced to do so.
What is does mean though, is it will be harder to get such a motion on the agenda.