Hedge Funds

Michael Platt’s BlueCrest to pay $101m in redress over conflict of interest claims

Billionaire’s firm settles long-running dispute with Financial Conduct Authority

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Investment firm to stump up after investigation into allegedly misleading disclosures Photo: Hollie Adams/Bloomberg/Getty Images

Billionaire Michael Platt’s BlueCrest Capital Management has agreed to pay $101m in redress to non-US investors, settling a long-running dispute with UK regulators over an alleged conflict of interest.

The Financial Conduct Authority hit BlueCrest with a public censure after finding that the firm had made insufficient and at times misleading disclosures to investors.

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