Trader accepts ban after detection by FCA surveillance algorithm

By Neasa MacErlean

The experienced trader who appealed against a £100,000 FCA fine and ban on regulated activity has now been given these penalties after his appeal to the Upper Tribunal was withdrawn. Corrado Abbattista, chief investment officer at Fenician Capital Management, came to the attention of the Financial Conduct Authority when suspicious transactions were spotted by the regulator's surveillance algorithms.