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Post Plenary Session - Does New Capital Compromise Mutuality

During his contribution to the plenary session Adrian Coles, Director General of the Building Societies, will make reference to the issue by West Bromwich Building Society of Profit Participating Deferred Shares (PPDS). The issue of new capital in this form has provoked a healthy debate within the building society sector about the extent to which the traditional mutual model has been compromised. Adrian has agreed to hold a short briefing session commencing during the refreshment break in which he will explain in greater detail what this new financial instrument is and how it impacts upon building societies mutuality. There will be an opportunity for delegates to ask questions and debate any issues arising from Adrian’s briefing.
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Updated: 09/06/2016