We reported on 25 January 2011 on David Einhorn and his hedge fund Greenlight Capital being fined £7.2 million by the FSA for trading on inside information. The Financial Services Authority has today:
- Fined Greenlight’s former compliance officer and trader, Alexander Ten-Holter, £130,000 for “failing to question and make reasonable enquiries” before Greenlight sold its shares in Punch Taverns plc.
- Fined a trading desk director at JM Morgan Cazenove, Caspar Agnew, for “failing to identify” the suspicious sell orders from Greenlight.
UPDATE 16 February 2012: The Bank of America Merrill Lynch broker, Andrew Osborne, has been fined £350,000 by the FSA. A transcript of the disputed conference call has also been released by the FSA. See Broker fined £350,000 in Einhorn / Greenlight Capital / Punch Taverns market abuse affair – and FSA releases transcript of conference call.
Friendly Corporate PSL
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