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Benedicte Gravrand, Opalesque Geneva:

Compagnie Financière Tradition is under investigation, according to U.S. and Swiss press reports. The Swiss-listed firm – also known as Tradition Financial Services – which is one of the world’s leading interdealer brokers, is believed by some to have tried to attract Libyan money through wrongful means in the past.

The Wall Street Journal reported earlier this week that the brokerage firm had run a campaign to woo Libyans connected to the country’s oil-rich sovereign wealth funds. This campaign included luxury vacations, gifts, travels, parties, as well as hiring relatives of senior Libyan officials. Gifts or payments can be considered bribes if they appear to be given with "corrupt intent."

Apparently, Tradition may have also set up Libyan officials with hedge-fund managers and bank traders. U.S. investigators have looked into the Libyan activities of hedge-fund manager, Philip Falcone of Harbinger Capital Partners, says the Journal (meanwhile, Harbinger Capital Partners is suing the U.S. federal government for allegedly reneging on an agreement regarding bankrupt wireless venture LightSquared, and is suing ......................

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