London Capital Group Holdings Share News (LCG)

London Capital Group (LCG), better known as Capital Spreads, has postponed tomorrow's full-year results as the spread better tries to decide what provision to take following a recent ruling against commission rebating.The company has already been fined £100,000 for losses suffered by a client two years ago, but thinks its final penalty will be "materially less than the total losses on the fund of £7.7m".A Financial Ombudsman Service (FOS) investigation found commission rebating from the Integrity Managed Currency Growth fund during the first half of 2009 had inflated client balances and magnified losses."LCG is currently studying the findings of the adjudicator and is working with the company's advisers to ascertain an appropriate provision to make for any potential liability arising from the FOS's assessment in the accounts for the year ended 31 December 2010," the firm said Monday"Consequently it has become necessary to delay the release of the company's 2010 Results for a short time until the level of provision is determined."Results for 2010, delayed until the end of March, are set to reveal profit before share based payments, software impairment charges and exceptional items is in line with current market expectations. Net cash resources at the end of last year were £13.95m.