Politics & Regulation Tax & Legal

FSA seeks record fine, ban for Dynamic Decisions’ Micalizzi


The UK’s Financial Services Authority is seeking to impose a fine of £3 million on Alberto Micalizzi, the founder and CEO of defunct quantitative hedge fund outfit Dynamic Decisions Capital Management, and to ban him for life from performing any role within regulated financial services.

The FSA took the decision to impose the ban and fine after determining that Micalizzi lied to investors in order to conceal significant losses in his firm’s master fund.

The £3 million fine is the largest the regulator has sought to impose for an individual in a non-market abuse case. The FSA has