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H2O deputy chief Alba fined, banned from financial services for misleading UK FCA

( July 25, 2025, 15:26 GMT | Official Statement) -- MLex Summary: The UK Financial Conduct Authority has imposed a fine of just over 1 million pounds ($1.3 million) on Jean-Noel Alba, the former deputy chief executive officer of asset manager H2O AM LLP, and banned him from the financial services industry. Between 2015 and 2019, H2O had failed to carry out proper due diligence on investments relating to the Tennor Group of companies owned by Lars Windhorst, or companies he introduced. The FCA said that during the investigation into H2O, Alba had provided false and misleading statements. “Senior leaders in financial services need to act with integrity. Mr Alba fell well short of those basic standards,” said Steve Smart, the FCA's joint executive director of enforcement and market oversight.Statement follows....

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