We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

RBS Shareholder query

My Dad has a deserted RBS shareholder (In ISA) for too many years to remember. Whatever shares he has have left are close to worthless.


I note in the news yesterday something about RBS paying out £800M to shareholders for some sort of settlement from incorrect information for a rights action a few years ago.


Is this settlement available to ordinary retail investors such as my Dad? If so any help how he can make an application for some sort of compensation?


any help appreciated.

Comments

  • apparently, not unless he's part of 1 of the shareholder action groups. i'm not sure whether he can try joining 1 of them at this stage.

    see https://www.fixedincomeinvestments.co.uk/discussion/topic/rbs-2008-rights-issue-confidential-settlement-and-the-fca/ - which suggests that the authorities (the FCA) have been (in the case of RBS, and in general) failing to enforce the rules about defective prospectuses on behalf of retail investors. with the result that private settlements can be available only to people who sue (something no ordinary person can afford to do).
  • mutley74
    mutley74 Posts: 4,025 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I read on the news RBS are offering the shareholders 82p due to the right issue saga. Has anyone tried claiming against RBS directly or via the action group? (my dad was put off paying the admin fees to join the Action rights group).
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 346.7K Banking & Borrowing
  • 251.4K Reduce Debt & Boost Income
  • 451.4K Spending & Discounts
  • 238.9K Work, Benefits & Business
  • 614.3K Mortgages, Homes & Bills
  • 174.8K Life & Family
  • 252.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.