Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 01 03T183521Z 1 LYNXMPEJ020J0 RTROPTP 4 SOCGEN - Business Express

French watchdog fines H2O Asset Management, executives over Tennor investments


(Reuters) – France’s financial markets watchdog AMF said on Tuesday it had fined H2O Asset Management and two of its managers close to 100 million euros ($105 million) in total for several breaches linked to investments in illiquid Tennor Holding assets.

H2O in 2019 became the subject of market and regulatory concern over its investments in illiquid bonds issued by several companies related to German entrepreneur Lars Windhorst, who owns Tennor.

The London-based investment firm was fined 75 million euros, while the two managers need to pay 15 million and 3 million euros respectively, the AMF said, adding the decision could still be appealed.

H2O did not immediately reply to a Reuters request for comment by phone and email.

The AMF in its decision said the financial penalties would be accompanied by disciplinary sanctions, citing several failings related to the acquisition and management of the Tennor assets.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

H2O in 2020 was urged by the watchdog to suspend some of its funds, as they were deemed insecure.

($1 = 0.9481 euros)

 

(Reporting by Juliette Portala, editing by Tassilo Hummel and Mark Potter)

 

Recent Post: