FCA: Four asset managers 'may have broken competition law'
Artemis IM, Hargreave Hale, Newton IM, River & Mercantile AM
The Financial Conduct Authority (FCA) has issued a statement of objections to Artemis Investment Management, Hargreave Hale, Newton Investment Management and River & Mercantile Asset Management in the first case the regulator is bringing using its competition enforcement powers, as it believes the firms may have broken competition law.
The FCA alleges that the four firms shared information by disclosing the price they intended to pay, accepting such information, or both, in relation to Initial Public Offerings (IPOs) and placings, shortly...
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