JOHCM under investigation by FCA over dealing commission

Follows thematic review

JO Hambro Capital Management (JOHCM) is being investigated by the Financial Conduct Authority following a thematic review by the regulator into dealing commission arrangements.

In March, the regulator published a report into dealing commission expenditure and found the majority of the 17 firms surveyed were "falling short of expectations".  This covered areas such as record-keeping, conflict of interest, research budgets and systems & controls. At the time of the report, the FCA said "where we identify breaches of our rules or principles, we will consider appropriate action, including more detailed investigations into specific firms, individuals or practices." Today, JOHCM's parent company Australian firm BT Investment Management, which acquired the firm ...