Suspended Gartmore Manager Fined By Italian Regulators

Apr 1 2010 | 10:35am ET

Guillaume Rambourg, the Gartmore hedge fund manager suspended for alleged directing trades, was fined by Italian regulators last month for market abuse.

Rambourg was among a group of fund managers implicated in a 2006 front-running scandal. He was fined €300,000 by the Italian regulator Consob.

The U.K. Financial Services Authority reportedly also investigated the alleged market abuse. It fined Roberto Casoni, the Citigroup analyst at the center of the scandal, but cleared the other three people investigated, all of whom worked for Gartmore or Schroders.

Fund managers at Schroders—as well as Oddo Asset Management and Dexia Asset Management—were among those fined by Consob.

Gartmore suspended Rambourg on Monday for allegations that he violated internal procedures. His suspension is not related to the Consob fine.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note