BlueBay manager banned and fined £140,000

A ex-BlueBay hedge fund manager has been fined £140,000 and banned by the FSA for misleading investors and the regulator.

Simon Treacher, a senior fund manager for BlueBay Asset Management's Emerging Markets team, mis-marked broker quotes to fool investors into thinking his funds were more valuable than they really were. Between August and October 2008, Treacher carefully cut out and pasted different figures onto seven original broker quotes used to value the assets in the funds he managed. The deception resulted in an uplift in independent valuations by about $27m over three months. Investors were financially disadvantaged by $650,000 as a result. BlueBay has compensated investors for any losses inc...