Financial services and markets tribunal clarifies both its own jurisdiction and the scope of market abuse

To report and comment on the tribunal case Phillippe Jabre v. FSA

Outlines the facts and explains the decision reached.

Had the tribunal resolved the market abuse issue otherwise it would have flown in the face of the realities of globally integrated financial markets and trading activity.

The case sounds a reminder of the width of the rationale for legislating against market abuse and insider trading.