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

TAKE A FREE TRIAL

The full contents of this article are only available to active EuroHedge subscribers and trialists.

To continue reading please,
take a free trialsubscribe or log in to EuroHedge.

Subscribe

Subscribers have unlimited access to all current content, including hedge fund performance Live League Tables. Start your subscription today - click on the button below.

Subscribe now