The FSA has fined the head of European credit sales at Credit Suisse £210,000 for improper market conduct and disclosing confidential client information.
The fine relates to a takeover of UnityMedia GmbH by Liberty Global, Inc. in November 2009, which was part-financed by a €2.5bn (£2bn) bond issue. Nicholas Kyprios was given confidential information by Credit Suisse, told that it was inside information and instructed in writing not to disclose it to third parties. On 11 November 2009 Kyprios called a fund manager to invite him to the bond issue road show. When the fund manager asked about the bond issue, Kyprios engaged in a guessing game, including advising when the fund manager was "getting warmer", the FSA said. "Kyprios was an ...
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