HSBC
Guilty verdict returned in Johnson case
Jury finds Mark Johnson guilty of conspiracy and eight counts of wire fraud
'End this nightmare,' says Johnson's defence
In his closing arguments, defence attorney John Wing tells jurors the prosecution failed to show evidence to support their claims
Prosecutor alleges ‘bonanza of lies’ in closing argument
Prosecuting attorney says Mark Johnson used his superior knowledge to take advantage of Cairn Energy
Johnson under cross-examination
Prosecution attorneys argue HSBC went beyond its executing bank role when it advised Cairn on order execution
‘Gus thinks we’re buying 6.5bn’ – Johnson trial
Mark Johnson’s trial reveals how HSBC faced significant difficulties with the Cairn order as other banks knew of the deal and tried to benefit from the information
Judge allows Rodgers’ ‘Russian name’ analysis into case
Judge does about-turn and allows Rodgers – whose $1,100 hourly fee riles prosecution – to enter his findings in court
Johnson: ‘It was fair all around’
Embattled former trader says execution of Cairn Energy order produced better than expected outcome
Johnson set to take stand today
Mark Johnson will testify in his own defence today following day of high drama on October 10 around Rodgers’ analysis
Johnson’s defence to present case on Tuesday
Rodgers expected to take stand during course of the week
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
Cairn treasurer denies knowing HSBC would pre-hedge order
Yet neither the corporate nor its adviser instructed the bank how to deal with the $3.5 billion order
Fed fines HSBC $175m for unsafe FX practices
Bank ordered to improve practices
Pre-hedging debate at centre of Johnson trial
For some, pre-hedging is common practice; for others, it is synonymous with front-running – a jury will need to decide
Johnson trial to resume on Monday
Judge falls ill, trial to continue on Monday; on Wednesday, Dipak Khot, testifying for the prosecution, underwent six hours of questioning
Prosecution witness Khot says he had concerns about Cairn order
Dipak Khot asked Johnson and his team to return some money to Cairn after seeing unexpected volatility
Johnson’s lawyer brands trial a ‘governmental mistake’
On the tense first day of Mark Johnson’s trial, the prosecution claims he saw dollar signs
Rodgers to testify in support of Johnson
Deutsche Bank’s former global head of FX believes Johnson followed industry practice when executing the large order
US super-regionals step up FX game
Citizens Bank and SunTrust Bank have been expanding and investing more in their FX platforms and talent
Employees get deposition stay in FX antitrust case
Depositions and interviews with bank staff in benchmark rigging case delayed until December 8
G10 FX revenues sink to lowest since 2006 – Coalition
Revenues in H1 2017 fell to their lowest level since Coalition launched its Investment Banking Index in 2006
BNP Paribas partners BestX
The French bank is the latest FX dealer to sign up to the firm's TCA services
Mark Johnson's trial to start on September 25
Jury selection to begin in alleged front-running case; judge postpones original date by a week at status conference hearing
DoJ fears FX civil suit may compromise criminal cases
It moves for judge to stay staff depositions at seven banks for fear of witness intimidation
Investors must sue outside US to recoup FX losses, urge lawyers
Lawyers say the extent of collusion is clear, following recent settlements by five banks