River and Mercantile makes £1m provision for FCA competition probe; Responds to Rodrigs departure

The firm was among four issued with a statement of objections by the FCA in November as potentially breaking competition law, with the groups now given the chance to respond to the claims. R&M chairman Jonathan Dawson commented: "While the outcome for the previously announced FCA competition matter is still uncertain, the board believes that it is prudent to recognise a provision together with a reduction in variable remuneration expense." R&M also recently appointed former Aviva Investors chairman John Misselbrook as chair of its newly-formed risk committee, which was set up after th...