The Financial Conduct Authority’s First Competition enforcement bodog sports betting app Decision

Share

A Cornerstone Research expert was instructed by Eversheds Sutherland on behalf of its asset management client in the first case where the Financial Conduct Authority (FCA) has used its competition enforcement powers.

The case involved the question of when information exchange constitutes a breach of competition law. Specifically, the FCA considered whether sharing of information, on a bilateral basis between competing asset management firms during one IPO and one placing, constituted an infringement.

The case involved the question of when information exchange constitutes a breach of competition law. Specifically, the FCA considered whether sharing of information, on a bilateral basis between competing asset management firms during one IPO and one placing, constituted an infringement.

Our expert provided a written expert report and testified in front of the FCA’s Case Decision Group.

The FCA has issued a modest penalty, albeit one that is approximately 10 per cent of the amount initially announced by the client as being at risk from FCA penalties in the event of an infringement decision.


For more information on this case, contact Vikram Kumar.