It emerged last week that one of London's largest hedge funds and a top trader are facing scrutiny from the Financial Services Authority.
According to reports in the UK media, Philippe Jabre and GLG Partners have attracted the regulator's attention over three trades in convertible bonds issued by Vivendi Universal, Alcatel and the Sumitomo Mitsui Financial Group.
Concerns have reportedly surfaced that Mr Jabre may have utilised non-public information regarding these trades to increase the profits of his convertible arbitrage fund.
However, both the hedge fund group and Mr Jabre have so far refused to comment on the matter.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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