Hedge fund Glen Point Capital was thrown into the headlines this week when its co-founder and co-chief investment officer Neil Phillips was arrested in Spain over a string of charges relating to wire fraud, commodities and foreign exchange manipulation.

The 52-year-old London-based hedge fund executive allegedly manipulated the FX market in order to unlawfully obtain millions of dollars in payments for his hedge fund under an options contract, US attorney for the Southern District of New York Damian Williams said on 1 September.