Regulators have fined a trader more than £660,000 for deliberately manipulating the UK bond market.
Mark Stevenson has also been banned from all city trading for life.
He tried, unsuccessfully, to sell a £1.2bn holding to the Bank of England at an artificially high price during its quantitative easing purchases (QE) on 10 October 2011.
The Financial Conduct Authority (FCA) said the former Credit Suisse trader’s conduct was “particularly egregious”.
“Stevenson’s abuse took advantage of a policy designed to boost the economy with no regard for the potential consequences for other market participants and, ultimately, for UK tax payers,” said Tracey McDermott, the FCA’s director of enforcement.
via BBC
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