2012-04-18 — citywire.co.uk
The Financial Times reported that the regulator is seeking to fine Stefan Chaligné, who ran the €95 million Iviron hedge fund, alleging that he placed improper trades that pushed up the share prices of several of his holdings and boosted his fund's reported value and his performance fees.
The FT reported that according to evidence given at the tribunal where Chaligné is fighting the proposed fine, he made large purchases of five European and two US equities in the final minutes of trading on December 31, 2007, boosting his fund's reported value by €2.7 million and his performance fees for that year by €360,000.
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