No Free Lunches at M&G as 20-Pound Gift Limit Imposed on Staff

  • New rules require any meal in excess of $29 to be logged
  • M&G asks brokers to detail costs of any hospitality by e-mail

M&G Investments, the asset manager owned by Prudential Plc, has tightened hospitality rules by capping the value of entertainment staff can receive from brokers at 20 pounds ($29) as regulators seek to curb inducements between financial firms.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.