The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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8/13/2008
Credit Suisse Closes Out Trading Scandal With FSA Fine 7/30/2008
FSA Continues Enforcement Binge 4/30/2008
A Quarter of Public Trades in the UK Don't Pass Sniff Test
HSBC Misplaces Data on Hundres of Thousands of Customers, Faces FSA Investigation
FSA Gets Serious Post Nothern Rock Collapse
FSA Prosecutes Phoney Stockbroker
FCPA Actions v/s European Inaction 1/24/2008
Traders Talk Tough on FSA Rough Play
FSA Brings First Criminal Insider Trading Probe
Philippe Jabre Returns to Hedge Funding
Credit Suisse Closes Out Trading Scandal With FSA Fine 7/30/2008
FSA Continues Enforcement Binge 4/30/2008
A Quarter of Public Trades in the UK Don't Pass Sniff Test
So claims the FSA.
Their key metric - informed price movements prior to public takeovers - up 5% since 2005.
-- MDT
4/08/2008
Their key metric - informed price movements prior to public takeovers - up 5% since 2005.
-- MDT
Labels: FSA, informed price movements, insider trading
HSBC Misplaces Data on Hundres of Thousands of Customers, Faces FSA Investigation
Let this be a lesson HSBC...when you send a disk containing the personal details of 370,000 of your insurees, always, always get a tracking number. And the data wasn't encrypted? D'oh!
-- MDT
4/01/2008
-- MDT
Labels: data breach, FSA, HSBC
FSA Gets Serious Post Nothern Rock Collapse
A little Monday morning quarterbacking going on with our friends across the pond...
Actually...
Do they HAVE Monday morning quarterbacking in the UK? I guess when it comes down to it they don't even really have quarterbacks, do they? Well never mind the metaphor...
Wait?
You're saying it wasn't a metaphor? Merely figurative language, and culturally irrelevant at that?
Well CRAP...
Just read the article, ok?
-- MDT
2/18/2008
Actually...
Do they HAVE Monday morning quarterbacking in the UK? I guess when it comes down to it they don't even really have quarterbacks, do they? Well never mind the metaphor...
Wait?
You're saying it wasn't a metaphor? Merely figurative language, and culturally irrelevant at that?
Well CRAP...
Just read the article, ok?
-- MDT
Labels: FSA, Northern Rock
FSA Prosecutes Phoney Stockbroker
William Anthony ‘Robin’ Radclyffe bilked clients of hundreds of thousands of dollars between 1997 and 2004. based on his recent guilty plea he'll serve 15 months and face assorted other penalties. The prosecution represents a rare case of the FSA utilizing its power to bring such cases. More on the Radclyffe prosecution right here.
-- MDT
2/11/2008
-- MDT
Labels: FSA, prosecution, William Radclyffe
FCPA Actions v/s European Inaction 1/24/2008
Traders Talk Tough on FSA Rough Play
Apparently, they aren't impressed with the FSA's first criminal prosecution, even though market watchers are saying that the effects could be wide-ranging...
-- MDT
1/23/2008
-- MDT
Labels: FSA, insider trading
FSA Brings First Criminal Insider Trading Probe
UK's Financial Services Authority is apparently considering, for the first time, using its power to bring criminal charges for financial crimes. Typically the regulator has opted to rely on civil penalties but a recent case has prompted a bit of butching up on the part of the FSA.
The unlucky ne're-do-wells taking the brunt of the FSA's man-up are Christopher McQuoid and James William Melbourne who stand accused of insider trading on shares of TTP Communications, ahead of an announcement that the firm was to be acquired by Motorola. McQuoid was, at the time, general counsel for TTP.
Both gentlemen are out on bail at the moment, with a court date set for Feb 19th.
Further details via the Financial Times.
-- MDT
12/22/2006
The unlucky ne're-do-wells taking the brunt of the FSA's man-up are Christopher McQuoid and James William Melbourne who stand accused of insider trading on shares of TTP Communications, ahead of an announcement that the firm was to be acquired by Motorola. McQuoid was, at the time, general counsel for TTP.
Both gentlemen are out on bail at the moment, with a court date set for Feb 19th.
Further details via the Financial Times.
-- MDT
Labels: Christopher McQuiod, FSA, insider trading, James Melbourne, Motorola, TTP Communications
Philippe Jabre Returns to Hedge Funding
The non-compete from GLG is over. With his personal scandal is more or less behind him and Philippe Jabre is getting back on the horse. Jabre has opened Jabre Financial Services in Switzerland and is building up his initial staff with some notable friends and family, including former GLGers, James Saltissi and Daniel Horsely and former Morgan Stanley head of risk management (as well as brother in law), Philippe Riachi. $2.5 billion is the year one target for assets under management.
Jabre had previously opened a firm called Ballena Captial, which was a vehicle for managing his own substantial wealth. The launch of Jabre Financial Services marks his return to managing other peoples money.
-- MDT
Jabre had previously opened a firm called Ballena Captial, which was a vehicle for managing his own substantial wealth. The launch of Jabre Financial Services marks his return to managing other peoples money.
-- MDT
Labels: Ballena Capital, FSA, GLG, hedge fund, Jabre Financial Service, Morgan Stanley, Philippw Jabre
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