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, […]

Abstract: Weavering was the UK’s first major fraud involving an investment manager regulated by the FSA. A Swedish PM, Magnus Peterson, ran a $639 million Global Macro scheme for almost 5 years, transferring all losses to its related entity. All related parties, including existing investors, directors, auditor and administrator, failed to recognize the fraud despite […]