UK Fines, Bans Former Credit Suisse Trader Over Bond Con

Law360, New York (March 20, 2014, 1:11 PM EDT) -- British financial regulators on Thursday fined a former bond trader for Credit Suisse Group AG £662,700 ($1.09 million) and banned him from the country's financial industry for manipulating the price of a bond and attempting to sell it to the country's central bank.

In a press release, the Financial Conduct Authority said Mark Stevenson artificially drove up the prices on the bond and attempted to sell it to the Bank of England. The violation came in 2011 during a period of “quantitative easing,” when Britain's central...
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