The FCA has today issued a decision which finds that three asset management firms breached competition law. 

The Financial Conduct Authority has fined Paul Stephany, a former fund manager at Newton Investment Management, £32,200 for his conduct in relation to an Initial Public Offering.

The FCA has warned that four asset management firms - Artemis Investment Management LLP, Hargreave Hale Ltd, Newton Investment Management Limited and River & Mercantile Asset Management LLP - may have broken competition law.