U.K. Motor Finance Ruling Is Unhelpful -- Market Talk

Dow Jones10-28

0838 GMT - The U.K. court of appeal's recent motor finance ruling may be hard to apply due to its view on what constitutes a "secret" commission, Jefferies says in a research note. Whether the borrower was informed about the commission depends on the specifics of each case, analysts write. Close Brothers on Friday said the court upheld an appeal to a case about a commission paid on a motor finance transaction. This ruling is likely to influence the Financial Conduct Authority's review of commissions in the sector. The risk for Jefferies' previous worst-case estimate for a 2.5 billion pound hit to Lloyds Banking Group from the probe has increased, they note. Close Brothers and Lloyds shares extend Friday's losses and are down 1.2% and 1.0%, respectively. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

October 28, 2024 04:38 ET (08:38 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2478175323?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-28 16:38","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2478175323","market":"sg","top_or_hot":-1,"title":"U.K. Motor Finance Ruling Is Unhelpful -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0838 GMT - The U.K. court of appeal's recent motor finance ruling may be hard to apply due to its view on what constitutes a \"secret\" commission, Jefferies says in a research note. Whether the borrower was informed about the commission depends on the specifics of each case, analysts write. Close Brothers on Friday said the court upheld an appeal to a case about a commission paid on a motor finance transaction. This ruling is likely to influence the Financial Conduct Authority's review of commissions in the sector. The risk for Jefferies' previous worst-case estimate for a 2.5 billion pound hit to Lloyds Banking Group from the probe has increased, they note. Close Brothers and Lloyds shares extend Friday's losses and are down 1.2% and 1.0%, respectively. (elena.vardon@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 28, 2024 04:38 ET (08:38 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.K. Motor Finance Ruling Is Unhelpful -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.K. Motor Finance Ruling Is Unhelpful -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-28 16:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0838 GMT - The U.K. court of appeal's recent motor finance ruling may be hard to apply due to its view on what constitutes a \"secret\" commission, Jefferies says in a research note. Whether the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4207","symbol_name":"综合性银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2478175323","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478175323","pubTimestamp":1730104680,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0838 GMT - The U.K. court of appeal's recent motor finance ruling may be hard to apply due to its view on what constitutes a \"secret\" commission, Jefferies says in a research note. Whether the borrower was informed about the commission depends on the specifics of each case, analysts write. Close Brothers on Friday said the court upheld an appeal to a case about a commission paid on a motor finance transaction. This ruling is likely to influence the Financial Conduct Authority's review of commissions in the sector. The risk for Jefferies' previous worst-case estimate for a 2.5 billion pound hit to Lloyds Banking Group from the probe has increased, they note. Close Brothers and Lloyds shares extend Friday's losses and are down 1.2% and 1.0%, respectively. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4207":"综合性银行","BK4521":"英国银行股","LYG":"劳埃德"},"translate_title":"英国汽车金融裁决于事无补——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LYG":0.9},"content_text":"0838 GMT - The U.K. court of appeal's recent motor finance ruling may be hard to apply due to its view on what constitutes a \"secret\" commission, Jefferies says in a research note. Whether the borrower was informed about the commission depends on the specifics of each case, analysts write. Close Brothers on Friday said the court upheld an appeal to a case about a commission paid on a motor finance transaction. This ruling is likely to influence the Financial Conduct Authority's review of commissions in the sector. The risk for Jefferies' previous worst-case estimate for a 2.5 billion pound hit to Lloyds Banking Group from the probe has increased, they note. Close Brothers and Lloyds shares extend Friday's losses and are down 1.2% and 1.0%, respectively. (elena.vardon@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 28, 2024 04:38 ET (08:38 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2478175323"}