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Comments on the incidence of unethical hedge fund practices in Great Britain. Report of a financial services industry watchdog in Great Britain that some hedge fund managers are acting unethically; Efforts of the Financial Services Authority to prevent insider trading, market manipulation, and other fraud by hedge fun managers; Goal of governmental agencies around the world the regulate financial services companies; Details of British policy to deal with fraud in hedge funds.

This article reports on the January 31, 2006 deadline set by Macquarie Bank Ltd. to investors to accept its bid for London Stock Exchange PLC in Great Britain.

Focuses on hedge-fund investors. Advantages that the biggest investors sometimes negotiate; Implications of the trend; Views of analysts; Observation that more people are investing in hedge funds; How, as the number of hedge funds has increase, it has given big investors, especially pension funds, more power dictating terms of investment; Mention of investor-protection laws, which demand that all investors be treated equally; Minimal oversight of the actual funds by regulators in the U.S. and Britain, where the bulk of the world's hedge fund managers are based; Why regulators have limited say over the use of side letters, which are contractual matters between funds and investors.

Cites the opposition of global investment managers to the renewed call by the British government for fund houses to divulge their voting records on corporate matters.

Analyzes the relationship between France and Great Britain in light of London's winning bid for the 2012 Summer Olympics, upsetting Paris. Historical implications of Trafalgar Square in London -- where Londoners celebrated being the chosen site of the Olympics -- as it relates to the military histories of France and Great Britain; Discussion of recent events related to the European Union finances and agricultural subsidies, suggesting a new French-British rivalry; Reaction from British newspapers to disparaging comments made by Chirac about Great Britain's culture; Description of the celebration at Trafalgar Square, honoring Lord Nelson.