Saturday, 30 May 2015
Last updated 1 day ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…