Belfast Telegraph

Saturday 25 October 2014

FSA fines Mercurius fund manager £2m

The Financial Services Authority (FSA) has fined a hedge fund manager £2m, its biggest ever fine on an individual, for making fake trades to cover up losses in a fund that collapsed in the credit crisis.

The FSA said Michiel Weiger Visser, the Dutch chief executive of Mercurius Capital Management, "deliberately misled investors". Visser did not appear at the tribunal and is in the Netherlands, which could make it harder to collect the fine.

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Comment

More

Company Profiles

More

Help & Advice

More

People on the move

More