FSA fines and bans ex-Dynamic Decisions compliance officer

Thu Dec 1, 2011

The UK Financial Services Authority has imposed a fine and ban on Sandradee Joseph – the former compliance officer at Dynamic Decisions Capital Management (DDCM), the London-based hedge fund that collapsed in early 2009.

Joseph was fined £14,000 and has been banned from performing any function of significant influence in regulated financial services businesses.

The FSA found that, following the collapse of Lehman Brothers in late 2008, the investment strategy adopted by DDCM resulted in losses totalling around 85% of the fund’s total assets under management. To conceal the losses, a senior employee entered into a number of contracts on behalf...

ISSN: 2151-1845 / CDC10004H

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