The FSA has banned former hedge fund manager Steven Harrison from trading and fined him £52,000 for ...
The FSA has banned former hedge fund manager Steven Harrison from trading and fined him £52,000 for market abuse. Harrison, who cannot work as a trader or fund manager for 12 months, was running the Moore Credit fund. In September 2006, he was provided with inside information about the refinancing plans of Rhodia SA by Credit Suisse. Harrison then instructed a colleague to buy 2 million Rhodia 10.50% Senior Notes due 2010. In October, as part of its refinancing programme, Rhodia announced plans to call in some of its more expensive debt, including the 10.50 bonds. The Moore Credit fun...
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