FCA

Newton, Artemis accused of sharing IPO data

UK Financial Conduct Authority alleges four asset management firms shared price intentions

suzi ring, sarah jones

29.11.2017

(Bloomberg) Four asset management firms, including Newton Investment Management, were accused of sharing pricing information ahead of initial public offerings as the UK markets watchdog flexed its competition powers for the first time.

The UK Financial Conduct Authority (FCA) issued a so-called statement of objections against Newton, Artemis Investment Management LLP, Hargreave Hale Ltd. and River & Mercantile Asset Management LLP, the watchdog said Wednesday.