Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fido Fined DeSano Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 20, 2004

Fido Fined DeSano

by: Sean Hanna, Editor in Chief

The "Green for Greens" scandal has reached head Fidelity trader Scott DeSano. The Wall Street Journal reported Monday that DeSano was one of the 14 equity traders disciplined last week.

The paper cites "people familiar with the matter" as its source.

DeSano, 44, reportedly was fined in part for failing to supervise some of his employees. Those fines reached about $50,000. In addition, he will lose part of his bonus.

Those penalties appear to be the end of the story for DeSano who remains as head of equity trading. A spokesperson told the paper that he will keep the post "now and in the future." DeSano has been the fund giant's top trader for the past eight years.

Meanwhile, the NASD has looked into DeSano's trip to the AT&T Pebble Beach National Pro-Am golf tournament. Though he asked for permission to attend the Bank of America Corp. sponsored event and paid for his own expenses, there have been questions raised about his playing with pros at the event. While the vslue of those playing slotes cannot be easily determined, they are awarded to sponsors paying hundreds of thousands of dollars. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use