Close Brothers' shares tumble after being targeted by short seller; firm counters claims (updated)
16/03/2026 18:15
Adds Close Brothers' response in paragraphs 2, 3 LONDON, March 16 (Reuters) - Close Brothers' CBRO.L shares tumbled 15% on Monday after short seller Viceroy Research posted a report on its website saying it was short the British financial services firm. Close Brothers said it "strongly disagrees" with the report, which focuses on the company's provisioning approach for motor finance commissions and the resulting impact on its capital position. The firm added that its provisioning in relation to the matter complies with UK-adopted international accounting standards and follows a "robust" governance process. Close Brothers is scheduled to report half-year results for the six months to January 31, on March 17. (Reporting by Samuel Indyk, Alun John and Aatrayee Chatterjee Editing by Tomasz Janowski and Alan Barona) ((alun.john@thomsonreuters.com))