French regulator fines Lebanese trader record $23.9m

PARIS- France's financial market regulator slapped a record 14 million euro (S$23.9 million) fine on a Lebanese trader for insider trading surrounding the 2008 buyout of logistics company Geodis by France's national rail monopoly, SNCF.

The previous record of 8 million euros, decided by the AMF earlier this year, was inflicted on luxury group LVMH for activity related to its investment in rival Hermes.