BUZZ-Hargreaves Lansdown: falls after scales back financial reporting

** Hargreaves Lansdown (Frankfurt: DMB.F - news) falls after scaling back of financial disclosures & another executive departure overshadow rise in funds under administration

** Chairman Mike Evans to step down

** Co to stop publishing separate unit results

** New (KOSDAQ: 160550.KQ - news) business inflows of 3.3 bln pounds

** Total (LSE: 524773.L - news) clients up 56,000 to 932,000

** HL shares fell as much as 5.3%, and are down 1% by 1119 GMT

** "Hargreaves has indicated that it will reduce its financial disclosure going forward, which we believe will make understanding the business more difficult," Liberum says

** Bernstein expects co's revenue margins to come down over time due to increasing competition in retail platform market

** HL suffered steep selloff earlier this week on news of UK launch by US co Vanguard, known for competitive pricing (RM (LSE: RM.L - news) :tenzin.pema1.thomsonreuters.com@reuters.net)