Britain's Financial Watchdog Bans Ex-Aviva Analyst

The Financial Conduct Authority has fined Mothahir Miah, a former investment analyst at Aviva Investors, for misallocating trades to funds that delivered higher performance fees in an effort to boost his profits. Miah agreed to settle at an early stage of the FCA’s investigation so he qualified for a 30% discount. Were it not for this discount, the financial penalty would have been £198,600.

FCA fines Miah £139,000 for “cherry picking”

Miah had authority to trade on behalf of hedge funds and long-only funds. Between January 2010 and October 2012, the former Aviva Investors employee exploited weakness in trading systems and controls through delayed booking and allocations of...