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LOOK Lookers Plc

129.80
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lookers Plc LSE:LOOK London Ordinary Share GB00B17MMZ46 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 129.80 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Lookers Share Discussion Threads

Showing 2676 to 2700 of 3925 messages
Chat Pages: Latest  109  108  107  106  105  104  103  102  101  100  99  98  Older
DateSubjectAuthorDiscuss
31/5/2020
11:54
🤡🤡🤡🤡 9313;🤡
jabers1
31/5/2020
11:42
FCA isn't the Law.

Banning something doesn't prevent claims being made.

Banning something usually occurs because something has been done in the past.

Some people may wish to name call me and accuse me of not knowing what I am talking about, that's fine.

The fact is a SECRET COMMISSION is illegal. Just search the subject don't take my word form it

I would suggest that jabers1 one stops crying over his share certificates and grows up.

I thought ADVFN was for grown ups, unfortunately a number of people clearly aren't. I will no longer post on this site on any subject.

Best of luck to all of you, and more so the lawyers pursuing dealers and lenders over secret commissions.

wobbly123
31/5/2020
09:06
There will be no fine.
jabers1
31/5/2020
08:39
will the fine be no more than £24m?
tjbird
31/5/2020
08:24
SOME PEOPLE ON HERE 🤡🤡🤡WOBBLY123 🤡🤡🤡 DO NOT KNOW WHAT THEY ARE TALING ABOUT!!

THE BELOW HAS NOT EVEN BEEN INTRODUCED AS YET.....

Announced OCTBER 2019

FCA acts to protect those buying motor finance

Press Releases Published: 15/10/2019 Last updated: 15/10/2019
The Financial Conduct Authority (FCA) has today announced plans to ban the way in which some car retailers, and other brokers in the motor finance sector, receive commission.

Currently, some motor finance brokers receive commission which is linked to the interest rate that customers pay. The broker can set that rate and the FCA found that the widespread use of this type of commission creates an incentive for brokers to act against customers’ interests. The FCA estimates the changes would save customers £165 million a year.

Preventing the use of this type of commission would remove the financial incentive for brokers to increase the interest rate that a customer pays and give lenders more control over the prices customers pay for their motor finance.

Christopher Woolard, Executive Director of Strategy and Competition at the FCA said:

‘We have seen evidence that customers are losing out due to the way in which some lenders are rewarding those who sell motor finance. By banning this type of commission, we believe we will see increased competition in the market which will ultimately save customers money.’

The FCA is also proposing to make changes to the way in which customers are told about the commission they are paying to ensure that they receive more relevant information. These changes would apply to many types of credit brokers and not just those selling motor finance.

The FCA is consulting on the new rules until 15 January 2020 and plans to publish final rules later in 2020.

jabers1
30/5/2020
17:13
Direct from FCA website , Q2 2020 was the proposed date but that will now be Q4 2020 earliest.

Maybe the FCA are so good that they Decided to investigate Lookers and commissions prior to outlining the criteria and introducing the new guidelines? 🤡🤡
4 Commission disclosure in consumer credit markets. 14 ... If our proposed rules are introduced as planned in Q2 2020

jabers1
30/5/2020
17:08
You are a 🤡🤡🤡
jabers1
30/5/2020
16:54
Surprised you are still FCA regulated as you are unaware that the Law ranks higher than FCA regulations.
Clearly you think mortgage brokers have to declare commission and car dealers don't.

AS IT SAYS ON THE TIN "SECRET COMMISSION" , which you consider to be legal. Please confirm that you have reported yourself to your employers and have requested training.

One wonders why lenders are held in such low esteem, when people profess to know what they are doing yet condone bribes (before you get excited the legal definition of a secret commission is a bribe. Which your retraining will no doubt teach you).

Won't get into an exchange with you or comment on anything you say, as dealing with such is a waste of my time Which is better spent in my day job, which guess what involves consumer and finance Law.

wobbly123
30/5/2020
14:52
There are no current regulations for the motor industry In place that make it mandatory for commissions earned from selling F + I products to be shown to the customer.

There are regulations for mortgage brokers and banks where the commissions earned must be shown to the customer..

I know this for a fact as I am FCA accredited and regulated so please don’t profess to know what your talking about when you clearly do not..

jabers1
30/5/2020
12:06
Jabers1,
Please don't profess to have knowledge regarding secret commissions as you clearly don't understand the subject.

But a Financial Conduct Authority (FCA) report found that many firms offering HP or PCP finance deals use commission models which allow brokers to decide the customer's interest rate, and link the amount of commission the broker earns to the amount of interest the customer pays.

This can lead to conflicts of interest where the broker can set a higher interest rate for the customer in order to earn more commission, leaving consumers paying an excessive amount. The FCA estimates this could be costing consumers £300 million a year.

Remember when you hold yourself out to understand something, it's likely someone knows more than you. Laws regarding secret commissions go back hundreds of years.

wobbly123
30/5/2020
11:02
The investigation is nothing to do with hidden commissions, there’s no such thing!!

There are no current FCA rules where dealers must declare the Finance commission earned to the customer!

This is due to change mid 2020, so please stop attempting to mislead people!!

jabers1
30/5/2020
09:38
Wilsman1

Research hidden commissions rather than mis-selling

wobbly123
30/5/2020
08:49
Jabers, I am inclined to agree all dealers use TCF software now days songstvtheyvareccompliantvwhen selling finance and insurance products I can't see that being a major issue. With regard to the overstating of bonuses if it's Corporate sales related if could be a heftier problem.
wilsman1
30/5/2020
08:18
Interesting comment. Knowing that something isn't happening
wobbly123
30/5/2020
07:31
There is no FCA investigation taking place regarding PCP mis-selling, it’s all been blown out of all proportions and you will all read this soon.

As far as the Fraud investigation goes this has also been blown out of all proportions and linked to only a small part of the group where one person was employed...

We will be back over 40p very very soon..

jabers1
30/5/2020
07:19
Rise on Friday on biggest volume since July last year. Bullish.
32campomar
29/5/2020
11:46
Nick Rubens,

I have also tried to factor in PCP mis-selling and the FCA investigation.

Still believe Lookers are a sub 10p stock.

wobbly123
29/5/2020
10:24
Well, There is a concern the economy is 'damaged' and that could take a long haul to climb out of, and there will be casualties.

I await Lookers outlook but more crucially the cost of the fraud in the current year. I'm hoping it's not that bad, but I have no insider info so the market movement ahead of results might be the key, assuming it knows.

I have a few I panic bought just in case it does rally strong.

nick rubens
29/5/2020
09:48
A false dawn Nick Rubens in my opinion.

In the US, Germany and South Korea, cases rising after lockdown eased.

Schools and business's re-opening will cause a spike.

Not saying we shouldn't open up the economy, but the cost of "running" a business will increase and turnover will be down.

Am short FTSE, Wallstreet and CAC

wobbly123
29/5/2020
08:57
Nice to see a lot of orders rather than automatic trades.

Market showing relief in general as lockdown eases and economy expected to restart.

nick rubens
29/5/2020
08:20
Hope so...
diku
29/5/2020
08:08
Looks like 30p may be coming ahead of results and update expected in June.
nick rubens
29/5/2020
07:45
Lots of positive media coverage too with forecourts reopening Monday. Watch those queues!
32campomar
29/5/2020
07:24
30p becoming a reality perhaps even today!
wilsman1
28/5/2020
14:02
This share doesn't move up in a traditional way...it did a lot of wondering about and soul searching in a round about way upto 13.00...then the spike up...30p anybody?...
diku
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