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...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login