FSA to investigate Gartmore's Rambourg

The FSA will commence an investigation into Gartmore manager Guillaume Rambourg to determine whether he met the regulator's standards of an approved person.

Gartmore's says it passed the findings from its internal investigation of Rambourg over a possible breach of directed trades, and now the FSA plans to investigate further. While the FSA plans to investigate Rambourg, Gartmore says it remains its intention to apply to the FSA to have his approved person status restored in order to reappoint him as a fund manager, subject to a satisfactory outcome of the FSA investigation. "The FSA has now confirmed that it is to commence an investigation into the conduct of Guillaume Rambourg to determine whether he has met the standards required of an...