UK FSA bans ex-Merrill trader for mis-marking

merrill-lynch-london-2009

LONDON – A former proprietary trader for Merrill Lynch has been banned by the UK Financial Services Authority (FSA) for mis-pricing trades to cover $456 million of trading losses.

The regulator banned Alexis Stenfors for five years for mis-marking interest rate positions by around $100 million in January and February last year. Stenfors, who is from Sweden, worked as a senior trader on Merrill Lynch International Bank’s short-term interest rate desk in London.

He claimed his behaviour was

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