rRomeo29
11 Dec 2017
Re: Tide turning PFG long term support since 2000:3 March 2000 -- 710.60p7 April 2000 -- 7543 Aug 2001 -- 795.226 Sept 2002 -- 75316 July 2004 -- 737.733 Feb 2006 -- 695.747 July 2006 --- 79118 Jan 2008 -- 72530 Jan 2009 --77719 Nov 2010 -- 75722 Sept 2017 -- 7568 Dec 2017 -- 794
rRomeo29
11 Dec 2017
Re: Tide turning To define the bottom of a share its best to cosult the historical chart with decades of timeframe. If you scroll back you'll see that in 2004 Provident was trading between 730-750p.Ask yourself: Is PFG worth less today than it has been worth fourteen years ago?
rRomeo29
08 Dec 2017
Re: Tide turning Get rich share! ---------- -----BASIC COMPENSATION: Fiscal Year 2017Malcolm Le May: 106,000Peter Crook: 6,315,000Andrew Fisher: 4,181,000
rRomeo29
06 Dec 2017
FCA - 30% discount on fine Might serve as an example for upcoming settlement with the FCA.---------- -----Mark Steward, executive director of enforcement and market oversight, said: "Insurance brokers must promote a culture in which they act in their customers' best interests and provide them with the information they need to make an informed decision. This is central to the relationship between the industry and its customers. "It is also unacceptable that firms hold themselves out as independent when they are not."Bluefin agreed to settle at an early stage of the investigation and received a 30% discount on the fine.ShareCast News: The Financial Conduct Authority has fined insurance broker Bluefin - a former AXA subsidiary - £4m for misleading customers:"The regulator said Bluefin had inadequate systems and controls and failed to provide information to its customers about independence in a way that was "clear, fair and not misleading. Between 9 March 2011 and 31 December 2014, Bluefin held itself out to be "truly independent" in the advice it provided and the insurers it recommended to customers. However, the FCA found that it failed to implement adequate systems and controls to manage the conflict that arose from its ownership. Bluefin's independence was compromised by its culture which promoted business strategies, including a policy which focused on increasing the business placed with its parent company, over treating customers fairly, it said.Brokers at Bluefin, which was sold by AXA on 31 December 2016, did not disclose this policy, meaning that customers risked being misled into believing they were dealing with a broker who would conduct an unbiased search of the market."
rRomeo29
05 Dec 2017
Re: Tide turning R2D2Now how about this read:"PFG reckon they've been working in consultation with the FCA...so why the problem?The FCA granted Moneybarn authorisation to conduct consumer credit activities on 3 June 2016 and since that date the FCA has continued to discuss certain processes with Moneybarn and Moneybarn has made a number of process improvements, including to the way it deals with future loan terminations. The Company will work collaboratively with the FCA to investigate the remaining concerns and resolve any outstanding related issues as soon as practicable."Why now?"
II Editor
05 Dec 2017
NEW ARTICLE: Can Provident Financial recover from latest setback? "The support of star fund manager Neil Woodford and many others in the City suggests that all is far from lost with LSE
FGrovident Financial. However, their faith in the former @GB:UKX:FTSE 100 company is being sorely tested after the doorstep ..."[link]
TX2
05 Dec 2017
Re: Tide turning Except that the few "only 50,000 customers" are borrowing upto £20,000 over five years as opposed to the "many" who are borrowing a few hundred quid over a few weeks!So we have an FCA enquiry into Moneybarn,another FCA enquiry into Vanquis bank over their PPi on steroids payment plan between £100m & £200m seems to be the likely cost plus chaos as usual in the home collection division;who knows?Still I am sure it is not all bad.I expect Woody will continue to fill other peoples boots with shares.
welloiled1
05 Dec 2017
Added today Added to holding today 1700 shares @ 728.Agree FCA investigation negligible certainty not a 15% drop.Expecting a retrace.Welloiled1
Spain Fund
05 Dec 2017
Re: Tide turning Neil Wilson at ETX Capital noted that Moneybarn is by no means a large part of Provident’s overall business with only around 50,000 customers out of the group’s 2m-plus.
Callun
05 Dec 2017
Re: Tide turning Tsunami!"Provident Financial plc (the "Company"
5 December 2017FCA investigation into Moneybarn Provident Financial plc (the "Company" has been informed that the Financial Conduct Authority (FCA) has commenced an investigation into Moneybarn in relation to the processes applied to customer affordability assessments for vehicle finance and the treatment of customers in financial difficulties.The Provident Financial Group aims to act responsibly in all its relationships, and to play a positive role in the communities it serves. The FCA granted Moneybarn authorisation to conduct consumer credit activities on 3 June 2016 and since that date the FCA has continued to discuss certain processes with Moneybarn and Moneybarn has made a number of process improvements, including to the way it deals with future loan terminations.The Company will work collaboratively with the FCA to investigate the remaining concerns and resolve any outstanding related issues as soon as practicable.Further to the Company's trading update on 13 October, the Company intends to make a post-closing trading update in mid-January."Callun
welloiled1
29 Nov 2017
Re: new CEO Also the silly season so lots of loans for presents etc...Hope new figures show a good collection uptake and 2018 strategy plan.Welloiled1
rRomeo29
28 Nov 2017
Re: new CEO ...with the first company RNS in ages, it looks like there will be stream of company news in the next few weeks.Nice zigzag rise this morning to as high as 8.78 !
rRomeo29
27 Nov 2017
Re: new CEO And now someone plse tell us what to make of this:27-Nov-17 / 16:58
8 / 886.51p 9,291 Buy* 850.00850.5082.37kO 27-Nov-17 / 16:56:48 / 865.37p / 1,487 Buy* 850.00850.5012.87kO 27-Nov-17 / 16:56:48 / 862.68p / 5,845 Buy* 850.00850.5050.42kO 27-Nov-17 / 16:56:48 / 862.38p / 7,877 Buy* 850.00850.5067.93kO 27-Nov-17 / 16:56:48 / 866.84p / 21,537 Buy* 850.00850.5013.32kO
rRomeo29
27 Nov 2017
new CEO Nice one! Although it is only an interim CEO. Apparently he was connected with the former director...---------- -----"Provident appointed senior independent director Malcolm Le May as interim executive chairman as it continues to hunt for a new CEO. Mr Le May said: "We are deeply shocked and saddened. The thoughts of everyone at Provident are with Manjit£s family and friends, and we extend our deepest sympathies to them.It was a great privilege to know her personally and to work alongside her over the last few years. She has shown exceptional leadership in stepping up to the role of executive chairman over the last few months. Manjit was known and respected for her achievements and championing diversity in British business, and we would like to pay tribute to her contribution to the business landscape."
contrarianstyle
24 Nov 2017
Wolstenholme thoughts with the family on this but she was hired to help turnaround Provident...[link]
