August 4, 2017 / 6:16 AM / 2 months ago

BRIEF-Hargreaves Lansdown cancels FY special dividend after FCA capital review

Aug 4 (Reuters) - Hargreaves Lansdown Plc

* On August 3, FCA notified group that it intends to reassess its regulatory capital requirements

* Revised assessment would mean group’s regulatory capital surplus during 2018 is insufficient to meet our risk appetite levels if we paid a special dividend for year ended 30 June 2017

* Board has concluded it needs to retain an additional 50 mln stg of capital and hence group will not pay a special dividend for financial year ended 30 June 2017

* For financial year ended 30 June 2017, Hargreaves Lansdown expects to announce: . Assets under administration up 28 pct to 79.2 billion stg

* Net new business of 6.9 billion stg, up 15 pct in year

* Unaudited profit before tax increase of 21 pct to a range of 265 million stg to 266 million stg Source text for Eikon: Further company coverage: (Reporting By Rachel Armstrong)

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