FSA Bans (Another) Oil Trader for Drunk Trading

When I saw the headline from a story out of the UK this week that “Regulators ban trader for huge drunken trades,” I thought that surely it was a follow-up article on David Redmond. Redmond was a freight and oil trader in Morgan Stanley’s Commodities Division in London who the UK’s FSA banned from the industry for two years in May 2009 for trading under the influence.

But this week’s headline is not about Redmond, but about yet another London oil trader banned by the FSA for making trades while drunk. Full details are available in this post on my Enforcement Action blog over at Compliance Week.