King of mining deals takes on the regulator

(Photo: Laura Lean)

Ian Hannam, one of the City's most effective and ubiquitous dealmakers, today began his fight against the City regulator that last year fined him £450,000 for alleged market abuse.

Opening a tribunal hearing today Richard Boulton QC said that senior bankers like Hannam should be scrupulous about handling confidential information and should set an example for junior staff.

Hannam denies he gave away any inside information while working on a potential bid for Heritage Oil. His barrister described the case as misconceived and says it has tarnished the former JP Morgan director's successful career.

(Photo: Laura Lean)