EDINBURGH investment house Martin Currie has been handed a £3.5 million fine by the UK's Financial Services Authority and a $8.3m (£5.1m) penalty by the US regulator for failing to manage a conflict of interest between two clients.
The US regulator, the Securities and Exchange Commission, said yesterday it had charged Martin Currie for "fraudulently using one of its US fund clients to rescue another client, a China-focused hedge fund struggling in the midst of the global financial crisis".
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