The National Futures Association, a US regulator, has fined Ikos Partners, a London hedge fund manager with assets of $2.3bn (€1.9bn), for failing to co-operate with requests for information.

The regulator said in an official statement that Ikos and Martin Coward, who is a partner alongside founder Elena Ambrosiadou, "had failed to co-operate promptly and fully with the NFA in NFA's audit of Ikos by failing to respond to NFA's information requests in a timely fashion, which impeded the NFA's audit and delayed its completion".