![]() |
The Financial Conduct Authority (FCA) has issued a statement of objections to four asset management firms: Artemis Investment Management LLP, Hargreave Hale Ltd, Newton Investment Management Limited and River & Mercantile Asset Management LLP. The FCA believes the four firms may have broken competition law. |
The FCA alleges that the four firms shared information by disclosing the price they intended to pay, or accepting such information, or both, in relation to one or more of two Initial Public Offerings (IPOs) and one placing, shortly before the share prices were set. The sharing generally occurred on a bilateral basis and allowed firms to know the other’s plans during the IPO or placing process when they should have been competing for shares. The FCA’s main allegations against the four firms are that separately:
in 2015, Newton Investment Management Limited (‘Newton’) and Hargreave Hale Ltd and River & Mercantile Asset Management LLP disclosed and/or accepted information about the price they intended to pay for shares in relation to one IPO and a placing; These are provisional findings and may not necessarily lead to an infringement decision. A statement of objections gives firms notice that the FCA thinks that they have infringed competition law and the opportunity to respond by making written and oral representations. The FCA will carefully consider any representations from the firms before deciding whether the law has been broken. The statement of objections will not be made public, however any final decision taken will be published providing more detail about the case. This is the first case the FCA is bringing using its competition enforcement powers. |
|
|
|
Calling all BPA analysts! | ||
North West / hybrid 50/50 - Negotiable |
Principal Actuary - Bermuda | ||
Bermuda - Negotiable |
Financial Planning & Analysis Actuary | ||
London/Hybrid - Negotiable |
Apply Your Doctorate to Technical Pri... | ||
Fully remote / nationwide / hybrid working options all available - Negotiable |
Senior Investment Manager | ||
London / hybrid - Negotiable |
P&C Consultant | ||
London / hybrid 3dpw office-based - Negotiable |
Senior Pricing Actuary | ||
London - £140,000 Per Annum |
Actuarial Pensions Manager | ||
Flex / hybrid 2-3 dpw office-based - Negotiable |
Financial Reporting in beautiful Bermuda | ||
Bermuda - Negotiable |
Principal Risk Analyst - island adven... | ||
Bermuda - Negotiable |
Make a difference within BPA Administ... | ||
North West / hybrid 50/50 - Negotiable |
GI Provisioning in the Public Sector | ||
London or Edinburgh / hybrid 3 dpw office-based - Negotiable |
Associate Actuary - Risk Transfer Con... | ||
Flex / hybrid 50/50 - Negotiable |
Assumptions Actuary | ||
London/Hybrid - Negotiable |
Senior Actuary | ||
London/Hybrid - Negotiable |
Senior Investment Trainee | ||
London or Edinburgh / hybrid 50/50 - Negotiable |
Pensions Manager | ||
Any UK office / hybrid 2 dpw office-based - Negotiable |
Actuarial Reserving Senior Manager | ||
London / hybrid - Negotiable |
Senior Actuarial Consultant – GMPe | ||
Any UK Office location / Hybrid working - Negotiable |
Senior Life Actuarial Consultant | ||
London / hybrid 3 dpw office-based - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.