FCA issues fines to GAM and Tim Haywood over absolute return bond saga

Third party prevents final notices

James Baxter-Derrington
clock • 2 min read

The Financial Conduct Authority has issued fines of £9.1m and £230,037 to GAM International Management and Tim Haywood respectively, along with a warning notice to each party.

This censure comes more than two years after Haywood (pictured) was suspended from the firm following an internal investigation into the manager's risk management procedures and record keeping. As both GAM and Haywood "agreed to resolve all issue of fact and liability", they had their penalties reduced from £13m and £319,044 respectively. The FCA noted that final notices would ordinarily be published, however a third party "who is not a subject of the final notices may be affected by them", resulting in the watchdog issuing less detailed warning notices. These outline the basis of ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Investment fraudsters jailed over £11.5m scam

Investment fraudsters jailed over £11.5m scam

Targeted elderly individuals and amassed 115 victims

Jen Frost
clock 21 July 2026 • 3 min read
Simpler advice rules should not mean simpler client understanding

Simpler advice rules should not mean simpler client understanding

The direction of travel is clear

Elly Dowding and Lee Coates
clock 17 July 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 14 July 2026 • 1 min read