Royal Bank of Scotland Group Plc investors should oppose the firm’s annual report and accounts because the lender may not be valuing its assets correctly, the U.K. Local Authority Pension Fund Forum said.
The U.K. pension funds of Royal Bank of Scotland Group Plc, aerospace components maker GKN Plc and the London Pensions Fund Authority have bought inflation-linked bonds and derivatives to limit the impact of salary and price increases in their defined-benefit obligations.
Mitsubishi UFJ Financial Group Inc. may buy project-finance assets from Royal Bank of Scotland Group Plc as Japan’s largest banks start deploying the $56 billion they’ve raised in share sales in the past two years.
Banks are benefiting from a European Central Bank subsidy that could reach 120 billion euros ($158 billion), enough to pay every bonus at financial firms in London for the next 24 years at today’s levels.
Royal Bank of Scotland Group Plc Chairman Philip Hampton said former directors failed in their fiduciary duty by not scrutinizing the bank’s purchase of ABN Amro Holding NV, the Guardian reported, citing a U.S. embassy cable published by WikiLeaks.
British lawyer David Doble held a conference at a Frankfurt hotel this month to tell an audience of German Landesbank executives they had good reason to seek punishment for those who rigged interest rates.