Brush all the toasted bread slices lightly with about half the olive oil.
Spread each slice with the tapenade.
Put the finely sliced and chopped fennel into a frying pan with the rest of the oil and a little cold water. Braise slowly, stirring frequently, until soft and cooked through. Season with a little salt and pepper, drain off any excess liquid, and then carefully place a small mound of braised fennel on top of each slice, making sure that the tapenade shows up all the way around.
Top with a few cubes of raw red pepper, an olive and a fresh flat leaf parsley leaf. Serve at once.