On 26 October 2015, the FCA published the final notice it has issued to Magnus Peterson, a director at Weavering Macro Fixed Income Fund Ltd, prohibiting him from performing any function relating to any regulated activities following his conviction for fraud.

http://www.fca.org.uk/static/documents/final-notices/magnus-peterson.pdf

In January 2015, Mr Peterson was convicted of eight counts of fraud, forgery, false accounting and fraudulent trading and was sentenced to 13 years’ imprisonment

In a press release on the final notice, the FCA states that Mr Peterson’s activities resulted in losses to clients of approximately $536 million.

The FCA has concluded that Mr Peterson is not a fit and proper person to perform any function as his conduct demonstrated a serious lack of honesty, integrity and reputation.

http://www.fca.org.uk/news/fca-bans-magnus-michael-peterson-from-the-financial-services-industry