{"id":4722,"date":"2006-07-13T00:00:00","date_gmt":"2006-07-13T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"fsa-defends-right-to-fine-jabre","status":"publish","type":"post","link":"https:\/\/staging.hedgeco.net\/news\/07\/2006\/fsa-defends-right-to-fine-jabre.html","title":{"rendered":"FSA defends right to fine Jabre"},"content":{"rendered":"<p>Reuters &#8211; The Financial Services Authority (FSA) said it was within its rights when it fined high-profile hedge fund manager Philippe Jabre for market abuse in Japan because the effects of globalfinancial trades are felt worldwide.<\/p>\n<p>  Jabre, a former top manager at GLG Partners, was earlier this year found guilty of insider trading on a convertible bond sale for Japan&#8217;s Sumitomo Mitsui Financial Group&nbsp; and fined 750,000  pounds.<\/p>\n<p>  At a preliminary hearing on his appeal on Monday a lawyer acting for Jabre said the UK&#8217;s financial watchdog had no jurisdiction in Japan.<\/p>\n<p>  However, the FSA said the instruments were also traded in London, and insider dealing anywhere in the world in Sumitomo securities would destroy confidence in the global market in those securities.<\/p>\n<p>  &#8220;We do live in a global environment, although we don&#8217;t have a global mandate &#8230; The effect (of such activities) is likely to be across the board,&#8221; the FSA&#8217;s lawyers told the preliminary hearing.<\/p>\n<p><a href=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~3\/http%3A%2F%2Ftoday.reuters.co.uk%2Fnews%2Fnewsarticle.aspx%3Ftype%3DfundsNews%26storyid%3D2006-07-11T082436Z_01_GRI130255_RTRUKOC_0_FINANCIAL-JABRE-FSA.xml%26src%3Drss\">ReadComplete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; The Financial Services Authority (FSA) said it was within its rights when it fined high-profile hedge fund manager Philippe Jabre for market abuse in Japan because the effects of globalfinancial trades are felt worldwide. Jabre, a former top [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4722","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4722"}],"version-history":[{"count":0,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4722\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}