FSA Bans Fund Manager
FSA Bans & Fines BlueBay Hedge Fund Manager
The market regulator said Simon Treacher, who had been a senior fund manager in BlueBay's emerging-markets' team, "cut and pasted" different prices onto brokers quotes on financial instruments within the funds he managed, lifting the funds' value by $27 million over three months.
Investors in the funds would have lost about $650,000 because of the mismarking but were compensated by BlueBay.
The hedge-fund group announced in November 2008 that Mr. Treacher was leaving the company, saying he had breached its internal valuation policy. The company declined to comment Wednesday.
The FSA said it is making no criticism of BlueBay in connection with the investigation. Source
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Tags: FSA, Bluebay Asset Management, BlueBay Asset Management Simon Treacher, Bluebay FSA, investigations, fraud, investors, hedge fund cases, Simon Treacher
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