Lawyers divided on Johnson’s Supreme Court prospects
Ambiguity in wire fraud statutes may see court accept ex-HSBC trader’s appeal – but it’s a long shot, say attorneys
US lawyers are split over whether the Supreme Court might take up an appeal by former HSBC foreign exchange trader Mark Johnson against his long-running fraud case.
The former global head of FX cash trading at the UK bank filed a petition to the US’s highest court in June to reconsider a fraud conviction relating to a $3.5 billion spot trade between HSBC and Cairn Energy.
The original conviction in a New York court in 2017 was based on a breach of mail and wire fraud statutes and was upheld by
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@fx-markets.com or view our subscription options here: https://subscriptions.fx-markets.com
You are currently unable to print this content. Please contact info@fx-markets.com to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Regulation
Korea’s leveraged ETF expansion aims to stem overseas outflows
Retail flows to US and Hong Kong listings may have exacerbated FX fragility
Isda’s Basel III playbook: speak softly and carry a big QIS
Scott O’Malia on capital reforms, repo markets and tokenised collateral
US policies eroding dollar’s position, say Knot and Obstfeld
Euro and renminbi unlikely to supplant greenback, but “more multipolar” system could arise
PBoC reserve ratio cut spurs short-term FX hedging
Removal of 20% forex risk rule drives exporters toward options and onshore forwards
China acts to slow yuan gains by scrapping FX forward hedge cost
PBoC to remove 20% reserve ratio as it aims for ‘reasonable and balanced’ renminbi
ISITC’s Paul Fullam on the ‘anxiety’ over T+1 in Europe
Trade processing chair blames budget constraints, testing and unease over operational risk ahead of settlement move
Will lifer exodus kill Taiwan’s NDF market?
Traders split over whether insurers’ retreat from FX hedging is help or hindrance
Will Iosco’s guidance solve pre-hedging puzzle?
Buy-siders doubt consent requirement will remove long-standing concerns
