{"id":5470,"date":"2006-12-28T00:00:00","date_gmt":"2006-12-28T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"glg-fined-12m-over-alcatel-trading","status":"publish","type":"post","link":"https:\/\/staging.hedgeco.net\/news\/12\/2006\/glg-fined-12m-over-alcatel-trading.html","title":{"rendered":"GLG fined \u00e2\u201a\u00ac1.2m over Alcatel trading"},"content":{"rendered":"<p>MSN MoneyCentral &#8211; rance&#8217;s stock market regulator has imposed a heavier fine than expected on GLG Partners for the British hedge fund&#8217;s actions in relation to a 2002 bond issue by Alcatel, the Frenchtelecoms group.<\/p>\n<p>  According to people close to the situation, the Autorit\u00c3\u0192\u00c2\u00a9 des March\u00c3\u0192\u00c2\u00a9s Financiers has fined GLG \u00c3\u00a2\u00e2\u20ac\u0161\u00c2\u00ac1.2m over the actions of its former star trader Philippe Jabre.<\/p>\n<p>  However, the watchdog reduced the fine for Deutsche Bank, which underwrote the issue, from a recommended \u00c3\u00a2\u00e2\u20ac\u0161\u00c2\u00ac1.5m \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 the maximum \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 to \u00c3\u00a2\u00e2\u20ac\u0161\u00c2\u00ac300,000.<\/p>\n<p>  The fine will come as a blow to Mr Jabre, who began accepting money for his new Geneva-based hedge fund this month.<\/p>\n<p>  GLG said it would appeal against the decision but declined to comment further.<\/p>\n<p><a href=\"http:\/\/news.moneycentral.msn.com\/provider\/providerarticle.aspx?Feed=FT&amp;Date=20061227&amp;ID=6304107\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MSN MoneyCentral &#8211; rance&#8217;s stock market regulator has imposed a heavier fine than expected on GLG Partners for the British hedge fund&#8217;s actions in relation to a 2002 bond issue by Alcatel, the Frenchtelecoms group. According to people close to [&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-5470","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5470","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=5470"}],"version-history":[{"count":0,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5470\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}