Consumer duty in focus at Hargreaves Lansdown's prelims
Stakeholders in Bristol-based wealth manager Hargreaves Lansdown PLC (LSE:HL.) will be seeking supportive words from the board on the topic of consumer duty in Wednesday, August 9's preliminary results.
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Hargreaves Lansdown rating slashed as new City rules bite
Citi has slashed ratings across the gamut of UK wealth-management stocks in the wake of new consumer duty regulations that took effect on July 31. Under new City rules now in effect, companies must utilise fair value assessments for on-sale tools and services, ensuring alignment with customer benefits and Financial Conduct Authority requirements.
Hargreaves Lansdown warns investor confidence remains low
Hargreaves Lansdown, the financial services business, said investor confidence remains low as macro-conditions weigh on sentiment. In the three months to 30 June, the group said share dealing volumes were 11% lower than the previous quarter and 12% down on the last year at 685,000.
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