Commodity broker fined, banned from city for coffee plot
LONDON – Andrew Kerr, a former commodity broker at Sucden has been fined £100,000 and banned from working in the financial services industry by the Financial Services Authority (FSA).
The FSA claims that Kerr conspired with a client to deliberately manipulate the market in coffee futures and options in a key period of trading on August 15, 2007.
Although Kerr was successful in his plan, his unnamed client did not make any profit from the scheme, though the FSA has said this “in no way diminishes
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