FCA bans 'reckless' hedge fund CIO
FCA bans ‘reckless’ hedge fund CIO A former chief investment officer at a London hedge fund has been hit with a £100,000 fine and a ban from all regulated activity by the UK regulator for market abuse. Furthermore, the action may lead to greater scrutiny on trading intermediaries and service providers in terms of their own responsibility to monitor their clients’ trading activity. The Financial Conduct Authority (FCA) found Corraddo Abbattista, formerly of Fenician Capital Management, guilty of creating a false impression of equity demand and supply which he did not intend to execute, ...
Source: funds-europe.com