GAM International Management fined £9.1m over absolute return bond saga

James Baxter-Derrington
clock • 3 min read
GAM International Management fined £9.1m over absolute return bond saga

The Financial Conduct Authority has issued fines of £9.1m and £230,037 to GAM International Management and Tim Haywood respectively, along with a warning notice to each party. This censure comes more than two years after Haywood (pictured) was suspended from the firm following an internal investigation into the manager's risk management procedures and record keeping. As both GAM and Haywood "agreed to resolve all issue of fact and liability", they had their penalties reduced from £13m a...

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