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GLG Partners was the focus of a small victory last month for the UK's Financial Services Authority (FSA), which successfully concluded its case against the UK hedge fund. The fund and its senior trader Philippe Jabre were each fined £750,000 following a two-year market abuse investigation by the FSA - its first high-profile success against a hedge fund, and a record fine against an individual.

The FSA's Financial Risk Outlook for 2006 warned of a coming wave of financial crime, and the partic

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