CONTROVERSIA
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Born in France · Nationality French — Business / finance / technology

Patrick Combes

Business and billionaires

Documented profile covering 7 controversies, including “Bourse Direct: partial deprivation of voting rights on presumption of concerted action” and “Bourse Direct sanctioned by AMF over failures to detect and report suspicious transactions”.

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Profile No. 0642 · Updated on 13 October 2026

7Documented controversies
13Sources
0Formal charge · all time
0Conviction

§ Legal statuses reflect the documented sources as of the date shown; they replace neither court decisions nor the presumption of innocence. Counts are not a rating. Methodology

I. Documented controversies

01

2021-2026

Bourse Direct: further AMF fine of €800,000 for reporting and market abuse surveillance failures

Civil / administrative proceedings

In June 2026, the AMF fined Bourse Direct €800,000 for failures in transaction reporting and its arrangements for monitoring and detecting market abuse committed between 2021 and 2023. Executive Catherine Nini was separately fined €50,000.

State of the evidence
Documented

Sources · 2

  1. [1]
    Autorité des marchés financiersLa Commission des sanctions de l’AMF sanctionne un prestataire de services d’investissement et sa dirigeante pour un montant total de 850 000 eurosRegulatory authorityHigh reliability
  2. [2]
    VIEL & CieOrganigramme simplifié au 31 décembre 2025Company documentHigh reliability

Last verified: 18 August 2026

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02

2021-2024

Compagnie Financière Tradition: repeated US regulatory sanctions against group entities

Civil / administrative proceedings

Several Compagnie Financière Tradition entities were sanctioned in the United States for market and control violations: in 2021, Tradition Securities & Derivatives paid $50,000 for late or inaccurate block trade reports and supervisory failings; in 2023, it received another fine for late reporting; in 2024, the CFTC fined Tradition SEF $875,000 for deficiencies in systems security and document production.

State of the evidence
Documented
Attribution
Indirectly implicated

Sources · 4

  1. [1]
    Commodity Futures Trading CommissionCFTC Orders Tradition SEF LLC to Pay $875,000 for System Safeguards Violations and Failing to Provide Records Promptly During CFTC ExaminationRegulatory authorityHigh reliability
  2. [2]
    CME GroupCOMEX-20-1285-BC-TRADITION-SECURITIES-AND-DERIVATIVES-LLCRegulatory authorityHigh reliability
  3. [3]
    CME GroupCOMEX-RSRH-22-6805-TRADITION-SECURITIES-AND-DERIVATIVES-LLCRegulatory authorityHigh reliability
  4. [4]
    Compagnie Financière TraditionPatrick Combes — biographyCompany documentHigh reliability

Last verified: 18 August 2026

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03

2016

Tradition Securities And Futures OTC: €400,000 AMF sanction

Civil / administrative proceedings

In January 2016, the AMF Enforcement Committee imposed a €400,000 financial penalty on Tradition Securities And Futures OTC in a decision concerning professional breaches and also involving two individuals.

State of the evidence
Documented

Sources · 2

  1. [1]
    Autorité des marchés financiersDécision de la Commission des sanctions du 11 janvier 2016 à l'égard de TSAF OTC et de MM. A et BRegulatory authorityPrimary source
  2. [2]
    Compagnie Financière TraditionPatrick Combes — biographyCompany documentPrimary source

Last verified: 18 August 2026

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04

2014-2015

Bourse Direct sanctioned by AMF over failures to detect and report suspicious transactions

Civil / administrative proceedings

In October 2014, the AMF Enforcement Committee fined Bourse Direct €250,000 for inadequate compliance resources and organisational shortcomings in identifying transactions suspected of market manipulation. The Council of State dismissed Bourse Direct's appeal in December 2015.

State of the evidence
Documented
Attribution
Indirectly implicated

Sources · 2

  1. [1]
    Autorité des marchés financiersPrice manipulation and online trading: AMF Enforcement Committee sanctions one person and Bourse DirectRegulatory authorityHigh reliability
  2. [2]
    Autorité des marchés financiersSAN-2014-17 - Décision de la Commission des sanctions du 1er octobre 2014 à l'égard de la société Bourse Direct et de M. ARegulatory authorityHigh reliability

Last verified: 18 August 2026

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05

2002-2008

Tradition Securities and Futures: €300,000 sanction linked to MIA share-price manipulation, appeal dismissed

Civil / administrative proceedings

In 2006, the AMF Enforcement Committee imposed a €300,000 financial penalty on Tradition Securities and Futures, the legal successor to MIA, for share-price manipulation carried out by MIA in 2002 on behalf of Sedia. In 2008, the Council of State dismissed the application to annul the sanction.

State of the evidence
Documented

Sources · 2

  1. [1]
    LégifranceConseil d'État, Section du Contentieux, 6 juin 2008, n° 299203Court recordPrimary source
  2. [2]
    Compagnie Financière TraditionPatrick Combes — biographyCompany documentPrimary source

Last verified: 18 August 2026

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06

2005-2007

Tradition Securities and Futures: AMF sanction inherited from acquisition of MIA, appeal subsequently dismissed

Civil / administrative proceedings

The AMF imposed a financial penalty of €10,000 on Tradition Securities and Futures following its acquisition of MIA, for breaches committed by MIA during the flotation of CST France in 2000. The Council of State subsequently dismissed Tradition Securities and Futures' appeal. Patrick Combes had chaired Compagnie Financière Tradition since VIEL took control of the group in 1996.

State of the evidence
Documented

Sources · 2

  1. [1]
    LégifranceConseil d’État, 30 mai 2007, n° 293423Court recordPrimary source
  2. [2]
    Compagnie Financière TraditionPatrick Combes — career historyCompany documentPrimary source

Last verified: 18 August 2026

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07

2001

Bourse Direct: partial deprivation of voting rights on presumption of concerted action

Civil / administrative proceedings

Bourse Direct's general meeting deprived certain shareholders, including Patrick Combes and Viel & Cie, of part of their voting rights on the basis of a presumption of undeclared concerted action.

State of the evidence
Documented

Sources · 1

  1. [1]
    Le MondeBourse Direct : privation de droits de vote pour présomption d'action de concertPressHigh reliability

Last verified: 18 August 2026

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II. Constellation of documented links

No documented link with another published profile for now.

Two profiles are linked when a documented controversy of one names the other. The link points to that controversy and its sources; it does not indicate a personal relationship.

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