FCA accuses four UK IPO investors of illegally discussing prices

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By Sam Kerr
29 Nov 2017

The Financial Conduct Authority has issued a first statement of objections to four asset management companies, which it believes may have broken competition law during the marketing of two IPOs in 2014 and 2015.

The asset managers under investigation are Artemis Investment Management, Hargreave Hale, Newton Investment Management and River & Mercantile Asset Mangement.

The regulator alleges that the four firms shared the prices they were willing to pay for shares during the IPO process. The FCA declined to comment on which ...

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