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Cattles PLC (CTT-LN)
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UK's Financial Services Authority Bans And Fines Directors A Total Of £600,000 For Publishing Misleading Information About Cattles Plc
Mondo Visione  Mar 28  Comment 
The Financial Services Authority (FSA) has fined and banned two former directors of Cattles plc (Cattles) and its subsidiary Welcome Financial Services Limited (Welcome) for publishing misleading information to investors about the credit quality...




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Cattles plc is a financial services company specializing in providing consumer credit to non-standard customers in United Kingdom. The Company also provides debt recovery services to external clients and its consumer credit business, and working capital finance for small- and medium-sized businesses. It also has a car retail operation, which is an introducer of hire purchase customers to its consumer credit business. Its business divisions include Welcome Financial Services, The Lewis Group and Cattles Invoice Finance. Welcome Financial Services consists of three businesses: Welcome Finance, Shopacheck and Welcome Car Finance. Shopacheck provides short-term home collected loans to some 260,000 customers through 52 branches. The Lewis Group provides debt recovery and investigation services, serving both external clients and Welcome Financial Services. In September 2007, it announced the acquisition of a debt portfolio of United Kingdom credit card, loan and overdraft receivables.

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