A request to obtain the contact details of West Bromwich Building Society members with a view to taking action against the board has been rejected by the FSA.
James Marchant, himself a member, applied for access to the names and addresses of the West Bromwich Building Society in June 2010. Marchant says the society failed to consult properly with members about changes to their holdings during the capital restructuring of the society in June 2009. He wants to contact the society's members in order to gauge interest in possible action to persuade the board of directors to revisit the terms of the capital restructure. In June 2009, society members holding subordinated debt agreed to swap their Permanent Interest Bearing Shares (PIBS) for Pr...
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