Hedge fund fined £41m over 'conflict of interest'

clock • 1 min read
Hedge fund fined £41m over 'conflict of interest'

The UK's Financial Conduct Authority has imposed a financial penalty of £40,806,700 on BlueCrest Capital Management (UK) for failing to take steps to prevent what it says was a conflict of interest. In the decision notice on 22 December the regulator said BCMUK had elected to refer the case directly to the Upper Tribunal which will determine the appropriate action, if any, for the FCA to take. The FCA considers that, between 1 October 2011 and 31 December 2015, BCMUK failed to manage fa...

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