Finance
Close brothers' shares tumble after being targeted by short seller; firm counters claims
Published by Global Banking & Finance Review®
Posted on March 16, 2026
1 min readLast updated: March 16, 2026
Quick Summary
Close Brothers’ stock plunged 15% on March 16, 2026 as short-seller Viceroy Research attacked its motor finance provisioning practices, while the firm rebutted, affirming compliance with UK accounting standards and strong governance.
Close Brothers' Shares Tumble 15% After Short Seller Report and Official Response
Market Reaction and Company Response
Immediate Share Price Impact
LONDON, March 16 (Reuters) - Close Brothers' 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.
Company's Official Statement
Disagreement with Short Seller Claims
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.
Compliance and Governance
The firm added that its provisioning in relation to the matter complies with UK-adopted international accounting standards and follows a "robust" governance process.
Upcoming Financial Results
Half-Year Results Announcement
Close Brothers is scheduled to report half-year results for the six months to January 31, on March 17.
Reporting Team
(Reporting by Samuel Indyk, Alun John and Aatrayee ChatterjeeEditing by Tomasz Janowski and Alan Barona)
Key Takeaways
- •Shares dropped approximately 15% following a short-seller report by Viceroy Research
- •Viceroy alleged issues in motor finance commission provisioning potentially weakening the capital base
- •Close Brothers defended its accounting treatment and governance, insisting it complies with UK‑adopted IFRS
- •The company is due to report its half‑year results for the six months ended January 31 on March 17, 2026
- •
Frequently Asked Questions about Close Brothers' shares tumble after being targeted by short seller; firm counters claims
1Why did Close Brothers' shares fall 15%?
Close Brothers' shares dropped after Viceroy Research published a report stating it was short-selling the company.
2What claims did Viceroy Research make about Close Brothers?
Viceroy Research questioned Close Brothers' provisioning approach for motor finance commissions and its impact on the firm’s capital position.
