GAM and star manager accept liability as FCA fines them over Greensill links

By Neasa MacErlean

Swiss fund manager GAM and its formerhigh-profile fund manager Tim Haywood have been fined by the FCA “for conflictsof interest and gifts & entertainment matters”. Penalties of £9.1 millionand £230,000 respectively are net of a 30 per cent reduction after the parties“agreed to resolve all issue of fact and liability”.