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Asset Manager Sets Aside £1M For FCA Competition Probe

Law360, London (March 8, 2018, 4:22 PM GMT) -- A U.K. asset management firm has said it set aside £1 million ($1.4 million) for an ongoing Financial Conduct Authority antitrust probe that accuses the firm and three others of disclosing inside information ahead of two initial public offerings and a share placing. 

River & Mercantile Asset Management LLP released its half-yearly financial report Wednesday, which said that the firm’s directors believe it is “prudent” to set aside the money while the outcome of the regulator’s investigation has “a number of uncertainties.”

The £1 million comes...
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