Funds Argue Negligence Halts Claim For RBS Litigation Costs
A group of institutional investors that include units of Lloyds Bank has refused to contribute to costs run up by a group that represented Royal Bank of Scotland shareholders who won a £200 million ($264 million) settlement from the lender over a rights issue in 2008.
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Scandal-hit Danske Bank was handed more bad news on Wednesday as the lender revealed that the Danish financial regulator has rejected its choice for a new chief executive on the grounds that he lacks sufficient experience.
Nomura International is seeking to avoid raising its pension payments to spouses and children of former staff, which it says would increase its retirement fund liabilities by more than £10 million ($13 million), according to documents filed at London's High Court.
More small businesses will be given access to the independent Financial Ombudsman Service to help them resolve disputes with banks outside the court system, the Financial Conduct Authority said Tuesday.
The European Union’s Single Resolution Board vowed Tuesday to open a formal process for complaints from shareholders and creditors of Banco Popular who have been denied compensation for the bloc’s decision to sell the failing bank to Santander for a nominal €1.
The U.K. Treasury came under pressure on Tuesday to protect charities from insurance premium tax in this month's Budget amid warnings that the unpopular levy is undermining their work.