WSJ – When Italian academic Alberto Micalizzi moved into the world of hedge funds, he was following a path taken by the likes of David Shaw, founder of D.E. Shaw, and James Simons of Renaissance Technologies. But for Mr. Micalizzi, a lecturer at Milan’s Bocconi University, the move has ended badly. He has been banned from finance in the U.K. and accused of fraud in Italy, where he’s currently in jail.
On Wednesday, the U.K.’s Upper Tribunal, which hears regulatory appeals, upheld the ban but lowered a fine to £2.7 million from £3 million.
