Close Brothers Share Discussion Threads

[blackhorse23] 28/10/2024 10:35

Might drop below 100p

[tomboyb] 28/10/2024 10:33

Thanks Jack -

Well -

Lets see what happens -

[thebutler] 28/10/2024 10:32

When I bought a house a few years back, I was roped into having a meeting with a mortgage broker. He sent me a quote for the best deal and within that quote it stated his fee would be £400. I thought I'm not paying that when I can shop around myself, so knowing the commission influenced my decision. Therefore if these motor finance companies are "hiding" similar commissions, I'm guessing they'll be taken to the cleaners. Unless I'm misunderstanding it.

[j2m] 28/10/2024 10:32

Brought more late of Friday to get my average down! Fool!!

[tomboyb] 28/10/2024 10:14

The way this is going it feels like a further drop is coming -

Lets see -

[tomboyb] 28/10/2024 10:01

Bought a tiny amount further -

Thats it for me -

[tomboyb] 28/10/2024 10:00

Lets see a bounci -

[chriss911911] 28/10/2024 09:54

jubberjim, would not be surprised if they get suspended, going concern must be now a doubt, they cannot just suspend writing new business and that's it, this will just keep falling. Look at most other shares very good day on market you would be seeing cash rise on almost anything else, yet you buy this, which is in free fall.

This could be any price though, so if blind gamble floats your boat then great share to trade, not something I would buy at any price, given current info, I would rather pay more when there is something to invest in, right now, it's a complete mess.

[jubberjim] 28/10/2024 09:42

That time for me is now got some at 260

FCA Initials self explanatory

[datait] 28/10/2024 09:42

Fill your boots and big knickers

[karv1] 28/10/2024 09:35

risk v rewards
your 100% correct I thought 450 was a good price to sell and 500+ was to high.
I thought below 350 was good then I thought 275 was good.
I put a bid in on Friday it closed at 276,
Now I'm not sure at all it seems just to unstable and risky.

[trying2trade] 28/10/2024 09:29

Everyone looking around at each other wondering when the time to buy is...

[diku] 28/10/2024 09:21

Those who bought on Friday getting locked in...

[tomboyb] 28/10/2024 09:01

Not sure on exactly what is happening with this Gregg -

Avg stock at 291 -

So clearly bought a bit early in relation to the current share price -

However CBG is certainly no Amigo -

[gregpeck7] 28/10/2024 08:49

Looks like they were within the rules. This is an extraordinarily strange set of circumstances.

[datait] 28/10/2024 08:39

Cash is king crash on the cards

[tomboyb] 28/10/2024 08:19

In the red at the moment -

Lets see where it goes by days end -

[tomboyb] 28/10/2024 07:51

Stoopid27 Oct '24 - 21:53 - 1507 of 1510
0 0 1
Whether you agree or not, CBG is nothing like Amigo. Not even the same circumstances.

I agree -

[suetballs] 28/10/2024 07:27

How do the FCA and regulators get out of this one?
Suet

[tsmith2] 28/10/2024 07:05

LloydsMOTOR FINANCE UPDATELloyds Banking Group plc (the Group) notes the recent Court of Appeal decisions on Wrench, Johnson and Hopcraft relating to motor commission arrangements. The Group also notes the intention of the lenders to appeal the decisions to the UK Supreme Court. The Court of Appeal has determined that motor dealers acting as credit brokers owe certain duties to disclose to their customers commission payable to them by lenders, and that lenders will be liable for dealers' non-disclosures. This sets a higher bar for the disclosure of and consent to the existence, nature, and quantum of any commission paid than had been understood to be required or applied across the motor finance industry prior to the decision. Our understanding of compliant disclosure was built on FCA / regulatory guidance and previous legal authorities. These decisions relate to commission disclosure and consent obligations which go beyond the scope of the current FCA motor commissions review. The Group is assessing the potential impact of the decisions, as well as any broader implications, pending the outcome of the appeal applications. The Group will update the market, if and as appropriate. -END-

[blackhorse23] 27/10/2024 23:45

No dividend next 2 years

[stoopid] 27/10/2024 21:53

Whether you agree or not, CBG is nothing like Amigo. Not even the same circumstances.It may go under like Amigo, yes that's true.but unlikely. Amigo was a sub prime lender who went bankrupt after being unable to pay the compensation ordered by the FCA due to totally improper lending practices to people who could never afford the loans.CBG and FCA is an argument over DCA (Discretionary Commission Arangements) and CBG have, or will have, 400m+ in cash to cover any fines and compensation. Big problem is that no one knows what CBGs liabilities will be. £400m has been mooted, might well be more.As has already been pointed out. This is now a total mess with no dividends for the foreseeable future and investors will stay well clear because of the uncertainty and possibility of disaster. CBGs future is all dependent on the following 3 things;1 The Supreme Court and it's view of the appeal courts decision.2 Barclays Judicial Review of FCA investigation3 The FCA and their decision on quantum, any fines and requisite compensation. Pays your money, takes your chances.

[stoopid] 27/10/2024 21:29

Thank you. That link Works.