Ex-hedge fund manager fined £52k for market abuse

Scott Harrison, who worked as a portfolio manager for Moore Europe Capital Management, made a €44,000 profit for the Moore Credit Fund by illegally using insider information. Although the FSA says Harrison’s actions were not intentional and point out he made no direct personal profit, it says its ruling “sends a clear message” it is determined to tackle market abuse. Margaret Cole, FSA director of enforcement, says: “This case highlights the importance of city professionals taking care to recognise inside information when they see it and not to misuse it. “Hedge fund managers and people...