Court considers ‘Wild West’ practices in HSBC frontrunning case

Seeking to overturn Mark Johnson’s conviction, his attorneys argue he violated no laws or industry norms when trading on behalf of Cairn

Mark Johnson at HSBC
Mark Johnson: convicted in 2017 of frontrunning a client’s multi-billion-dollar currency order

The United States Court of Appeals for the Second Circuit reserved making a decision at a May 31 hearing in the fraud case against former HSBC senior banker Mark Johnson, who was convicted in 2017 of frontrunning a client’s multi-billion-dollar currency order.

The court will consider whether, if it should decide in Johnson’s favour, it would be “signing off on the wild, Wild West” by condoning the practice that found him guilty of conspiracy and eight counts of wire fraud in October 2017.

Howe

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: