Asset management firms (information sharing) (FCA) [Archived]
Asset management firms (information sharing) (FCA) [Archived]

The following Competition practice note provides comprehensive and up to date legal information covering:

  • Asset management firms (information sharing) (FCA) [Archived]
  • Case facts
  • Timeline
  • Commentary


ARCHIVED–this archived case hub reflects the position at the date of the decision of 21 February 2019; it is no longer maintained.

See further, timeline and commentary.

Case facts

OutlineFinancial Conduct Authority (FCA) Article 101 TFEU/Chapter I investigation into four asset management firms in relation to an alleged breach of competition law for sharing sensitive information regarding prices for initial public offerings (IPOs). 

Latest developmentOn 21 February 2019, the FCA issued its decision finding that three asset management firms breached competition law. It imposed fines against two of them.

Parties• Artemis Investment Management LLP (Artemis), a leading UK-based fund manager
• Hargreave Hale Ltd (Hargreave Hale), a leading provider of investment management, stock broking and fund management services in the UK
• Newton Investment Management Limited (Newton), a UK-based global investment management firm, and its ultimate parent company The Bank of New York Mellon Corporation
• River & Mercantile Asset Management LLP (RAMAM), a UK-based investment boutique specialising in the management of UK and global equities, and its ultimate parent company River and Mercantile Group PLC.

Market(s)Asset management

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