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
Tim Haywood
Image:

Tim Haywood

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. ...

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