The week the UK's Financial Services Authority formally fined hedge fund manager Philippe Jabre and his former firm GLG £750,000 (€1.1m) apiece for market abuse, relating to Jabre's trading in Tokyo-listed securities issued by Japanese bank Sumitomo Mitsui, Japan's Financial Services Agency has said it will tighten the rules on insider trading.

Is this a classic case of shutting the stable door after the horse has bolted or, as the Japanese might say, he wo hitte, shiri tsubome?