Shares in Close Brothers rose after the U.K. merchant bank said its updated estimate of the cost of an industry-wide redress plan related to a probe on car-loan commissions roughly aligns with its ...

Close Brothers said its estimate reflected assumptions including a 75% claim rate and average redress of about £500 per ...

Investing.com -- Close Brothers Group plc (F:CBRO) shares jumped over 17% on Wednesday after the lender said it estimates the cost of the Financial Conduct Authority’s motor finance consumer redress ...

The UK financial regulator has scaled back its scheme to provide compensation to millions of people who were mis-sold car loans over the past two decades, reducing the costs for banks by almost £2bn.

A typical firm’s exposure to redress liabilities in relation to defined benefit (DB) pension transfer advice is now likely to be below 5% of the transfer value advised. This is according to First ...