Independent – Regulatory authorities investigating GLG Partners, a London hedge fund, are focusing on the $1.85bn convertible-bond arbitrage fund run by Philippe Jabre, according to sources familiar with the matter.
The Financial Services Authority are examining whether GLG traded on non-public information on upcoming convertible bond issues. The probes yet again shine a spotlight on the hedge fund industry, which has been criticised for a lack of transparency. The FSA is conducting an investigation into hedge funds amid calls for more regulation.
