ACI to file amicus brief for Mark Johnson appeal

Traders’ association believes lower court decision could spook banks, hike costs for transacting fixings and hit liquidity

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Wider impact: ACIFMA believes the Johnson case could have far-reaching implications for FX markets

The ACI Financial Markets Association (ACIFMA) is planning to file an amicus brief, supporting the appeal of former HSBC executive Mark Johnson, who was convicted of wire fraud relating to a $3.5 billion foreign exchange order in October 2017.

Amicus briefs are legal documents filed by non-litigant parties who have a strong interest in the subject matter of cases going through appeal, to advise the courts on additional information that might be relevant to the case.

ACIFMA, a trade body

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