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FCA slaps GAM and ex-star manager with £9m fine over conflict of interest issues
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fnlondon.comThe City watchdog has fined Swiss asset manager GAM £9.1m and its former star manager Tim Haywood £230,037 for “conflicts of interest and gifts and entertainment issues”.
Both the asset manager and Haywood qualified for a 30% discount from £13m and £319,044 respectively because they “resolved all issue of fact and liability”, the Financial Conduct Authority said in its 16 December statement.
The...
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