Last mentioned: Mar 17, 2026
Workforce Reduction
Close Brothers announces plans to cut nearly 25% of its staff to manage costs.
Dividend Suspension
Close Brothers pauses shareholder payouts to retain capital amid regulatory uncertainty.
Court of Appeal Ruling
Judges rule that lenders must disclose commissions to customers, increasing liability risks.
FCA Investigation Launched
The FCA begins a review into historical motor finance commission arrangements.
Close Brothers Group PLC has announced plans to reduce its workforce by nearly 25% as it struggles with the financial and regulatory fallout of the UK car finance commission scandal. The move follows a landmark court ruling that has forced the specialist lender to aggressively preserve capital and pause dividend payments.