Platt’s BlueCrest Agrees to Pay Out $101 Million to Investors

Michael Platt’s investment firm BlueCrest Capital Management will pay out $101 million to investors after UK regulators said it failed to manage conflicts of interest over an internal investment fund.

BlueCrest and the UK’s Financial Conduct Authority have been grappling over the scope of the compensation demand, with the pair previously due to go before the UK’s highest court on the matter next month. The FCA had originally sought more than $700 million in redress.