The Financial Services Authority (FSA) has fined a former compliance officer at David Einhorn's Greenlight Capital and a trader at JP Morgan Cazenove for insider trading and market abuse.
Alexander Ten-Holter of Greenlight was fined £130,000 for failing to question and make reasonable enquiries before selling Greenlight's shareholding in Punch Taverns before a significant equity fundraising by Punch in June 2009. The FSA said this meant Ten-Holter was unable to perform compliance oversight and money laundering reporting functions. Caspar Agnew, trading desk director at JP Morgan Cazenove, was fined £65,000 for failing to identify and act on a suspicious order from Greenlight to sell Punch shares. This led to the firm being used to facilitate insider dealing or marke...
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