French regulator the Autorité des Marchés Financiers has set out recommendations against H2O Asset Management following the fallout from Lars Windhorst-linked illiquid bonds, seeking more than €90m in fines.
The record amount would see the asset manager fined €75m, with co-founder and chief executive Bruno Crastes fined €15m, alongside a further €3m for chief investment officer Vincent Chailley. This comes more than two years after H2O AM suspended a trio of funds at the request of the AMF, owing to its "significant exposure" to private securities which were tied to German financier Lars Windhorst, as revealed by the Financial Times. BoE's Cunliffe: FTX collapse demonstrates need for crypto regulation After a short period, the funds were reopened with €1.6bn of these illiquid bonds seg...
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