(Bloomberg) Weavering Capital (UK) Ltd. founder Magnus Peterson became the second convicted financier in two weeks to be banned from the industry as a U.K. regulator sought closure in some of the country’s biggest scandals following the financial crisis. Peterson, who was sentenced to 13 years in prison in January for a string of fraud offenses that cost his clients about $536 million, can’t take a position that involves any regulated activity, the Financial Conduct Authority said Monday. The ruling follows a similar one on Oct. 16 against Kweku Adoboli, the trader who was responsible for causing a $2.3 billion trading loss at UBS Group AG.
Ex-Hedge Fund Boss Banned From Finance Industry
This entry was posted in Syndicated. Bookmark the permalink.
