FCA Fines Fund Manager £1.9M For Mistreating Investors
Law360, London (November 20, 2019, 12:34 PM GMT) -- The Financial Conduct Authority said Wednesday that it has fined a fund manager £1.9 million ($2.5 million) for charging more than 4,500 less-experienced investors a total of £1.8 million for management services they did not receive.
Henderson Investment Funds Ltd., or HIFL, which is part of the London-based Janus Henderson Group, treated retail investors in an unfair and “substantially different” way from professional institutional investors in the same funds, the watchdog said it found.
The fund’s appointed manager, Henderson Global Investors Ltd., stopped actively managing the fund’s Japan and North American funds in 2011 — which meant the manager would no...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!