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Guessing game lands Credit Suisse salesman FSA fine

Head of European credit sales breached wall-crossing procedures over Liberty Global acquisition of Unitymedia in late 2009

Credit Suisse’s head of European credit sales has been handed a £210,000 fine from UK regulators and had his variable compensation for last year slashed by his employer after passing on confidential information about a forthcoming takeover and bond issue to an investor through a game of telephone “charades”.

Nick Kyprios, who has led the European credit sales team since a reorganisation by Credit Suisse in April 2008, was today fined by the Financial Services Authority for disclosing information to two fund managers in November 2009 concerning the imminent announcement of US telecoms firm Liberty Global's agreed acquisition of German cable TV company Unitymedia.

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