As Philippe Jabre celebrates the launch of his new venture, GLG Partners is still paying for the once and future star trader's purported misdealings. France's Autorité des Marchés Financier has fined GLG Partners $1.6 million in relation to a 2002 bond issue involving French telecom firm, Alcatel. This is the same issue that saw Philippe Jabre face a lifetime ban from Britain's Financial Services Authority for alleged indisder dealing. Deutsche Bank was also facing fines in relation to their role in the scandal, but was hit with a smaller than expected fine.

-- MDT

Labels: Acatel, Autorité des Marchés Financier, Deutsche Bank, GLG, Philippe Jabre