GLG Trading Woes Reaching End With Modest Fine

StockJockey's avatar
by StockJockey
Thursday, March 02, 2006 - 7:36 am

If the Wall Street Journal is to be believed, hedge fund giant GLG and its former star trader Philippe Jabre got off easy when the FSA levied a fine of $2.61 million this week over “improper” trading in a Japanese financial stock. The trading is alleged to have occurred back in February 2003. The fine will split evenly between the $11.5 billion fund and its disgraced manager, both of whom can probably afford it.
GLG, Jabre Receive Fine [WSJ]

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