Cahill in hot seat over FCA statements

Former HSBC trader admits he would have given a different answer to the FCA if the question had been more specific

Law court gavel
Under oath: “Had I been asked a very specific question, I would’ve given a more specific answer,” says Frank Cahill

Frank Cahill, a former head of cable at HSBC in London, said he made false statements to UK regulators who were investigating his conduct in the foreign exchange market approximately four years ago.

Cahill, who has signed a non-prosecution agreement with the US Department of Justice (DoJ), made the admission on October 4, while testifying for the government in the fraud case against his former HSBC colleague, Mark Johnson.

When Cahill met with regulators at the Financial Conduct Authority in

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