Fund manager hits out at ‘excessive’ compliance rules

LONDON – Roger Guy, co-head of hedge fund operations at Gartmore, has claimed the UK asset manager’s internal compliance controls are “excessive”. Guy’s co-head, Guillaume Rambourg, was fined €300,000 by the Italian regulator Consob in February. The fine was administered for ‘front-running’ (taking a position after receiving information not yet public) on Italian bank Italease in 2006. Rambourg was suspended on March 29 by Gartmore as part of a separate internal investigation into “directing

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