The UK's Financial Services Authority yesterday issued the largest ever fine to an individual for market abuse and other offenses, imposing a penalty of 2 million pounds ($3.3 million) on Dutch hedge fund manager Michiel Visse, CNBC writes.. The company's CFO, Oluwole Fagbulu, was also fined 100,000 pounds ($163,162) for failures of oversight.
Visser was chief executive of Cayman Island-registered Mercurius Capital Management, whose 35 million euro ($50 million) Mecurius International Fund ran fundamental, momentum and event-driven strategies. Visser, who launched the company in 2002 after holding senior positions at ABN Amro Asset management, ran the latter component, according to documents released by the independent tribunal hearing the case…
Read more at http://www.cnbc.com/id/44155650
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