FCA slaps 'reckless' former hedge fund CIO with ban and £100k fine

Corrado Abbattista, who was a portfolio manager and partner at Fenician, created a false and misleading impression as to the supply and demand for equities between 20 January and 15 May 2017, the FCA said. "On multiple occasions", Abbattista was found to have placed "large misleading orders" for CFDs referenced to equities, which he did not intend to execute. Simultaneously, he placed smaller orders that he did intend to execute on the opposite side of the order book to the misleading orders. "Through his large misleading orders", the FCA said, Abbattista "falsely represented to the m...