Former Aviva analyst fined and banned by regulator

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A former Aviva investment analyst was fined and banned by the U.K. Financial Conduct Authority for mis-allocating trades to funds that would deliver higher performance fees in an effort to boost his profits.

Bloomberg News reports that Mothahir Miah was fined $211,000 for engaging in a practice known as 'cherry picking', which involved delaying the allocation of trades to ensure the best ones went to hedge funds that paid higher fees, the Financial Conduct Authority said Tuesday.

Aviva was fined $26.8m in February by the FCA for failing to manage conflicts of interest among funds in its fixed-income business.

To access the complete Bloomberg News article hit the link below:

Ex-Aviva Analyst Fined, Banned by U.K. FCA for `Cherry Picking'

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