FCA issues its first decision under competition law

Regulatory Updates | 21/02/19

On 21 February 2019, the Financial Conduct Authority issued a decision which found that 3 asset management firms breached competition law. This is the FCA’s first formal decision under its competition enforcement powers. The competion law infringements involved the sharing of strategic infortmation between competing asset management firms during an initial public offering and one placing, shortly before the share prices were set.