FCA Fines Asset Manager GAM £9M For Conflict Of Interest

By Lucia Osborne-Crowley (December 16, 2021, 11:11 AM GMT) -- The City watchdog said Thursday that it has hit asset manager GAM International Management Ltd. with a £9.1 million ($12 million) fine for failing to protect against conflicts of interest arising out of one of its bond funds.

The Financial Conduct Authority said that asset manager GAM International Management failed to "manage conflicts of interest fairly between itself and its customers and different customers." (Getty Images) The Financial Conduct Authority said the fines related to GAM International's failure to control conflicts of interest in three specific investments made between 2016 and 2018. The watchdog said the firm failed to "manage conflicts of...

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