Fidelity Investments fined its high-profile head of stock trading, Scott De Sano, amid a federal probe of its gift-giving and business entertainment activities, the Wall Street Journal reports.
The Boston mutual fund giant said last week that it disciplined 14 traders in its investment arm and that two more have left the company as a result of an internal investigation. De Sano was among the list of disciplined traders, the Journal said, citing people familiar with the matter. He was fined, in part, for failing to supervise some of his employees, the newspaper report said. De Sano will remain at his job "now and in the future," a Fidelity spokeswoman told the Journal.