FSA has banned a former Morgan Stanley commodities trader for trying to hide his trading position. David Connor Redmond built up a substantial short position one day in breach of his firm’s procedures and then hid the position overnight. The next day he traded out of the position and admitted what he had done only when the firm challenged him. Although Mr Redmond, who was registered to CF30, was trading on a proprietary basis at the time, FSA has banned Mr Redmond from carrying on any controlled function in relation to any regulated activity. However, it is likely to agree to an application to lift the ban in two years. FSA specifically made no criticism of Morgan Stanley or any other individual there.