FSA fines former Compliance Officer at Greenlight Capital and Trading Desk Director at JP Morgan for Insider Trading
January 27, 2012
The FSA has fined Alexander Ten-Holter, a former compliance officer at Greenlight Capital (UK) LLP, and Casper Agnew, a trading desk director at J.P. Morgan Cazenove, for actions arising from the sale of Greenlight's holdings in Punch Taverns plc.
In June 2009, Ten-Holter received an order to sell Greenlight's entire shareholding in Punch, but failed to ensure that the order was not based on inside information despite being aware of facts which indicated a strong risk that it was. Agnew executed the order and was deemed to have failed to act with reasonable care and skill as he was also aware that the order to sell may have been based on inside information.