The Securities and Exchange Commission has barred the former Clarion Management director from investment advising for one and a half years as part of a settlement stemming from a suit over market timing against the hedge fund in January.

In addition to the temporary ban, John Fife will also be forced to pay a $234,399 (€171,858) fine, including pre-judgement interest of $60,584 as well as a civil penalty of $234,399. The fines reflect the Sarbanes-Oxley Act's directive to pay disgorgement or repay ill-gotten gains, as well as repaying the victims.