Investors fight RBS snub to shareholder committee move

About 160 individual investors are pushing RBS to form a shareholders’ committee, which would allow retail investors to have a formal say on RBS proposals, such as executive pay, company strategy and director appointments.

The shareholders say this would improve corporate governance at the state-backed bank, which nearly collapsed in 2008 and was bailed out by the UK government.

Last month, however, RBS told investors it had sought legal advice on the resolution and would not put it before its annual general meeting. This week, RBS declined to show its legal advice to the 160 shareholders, arguing that it is legally privileged and can remain confidential.

Source: Investors fight RBS snub to shareholder committee move

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