work, two things must be true: first that there was a fiduciary relationship between the parties; second that there is deception as to the use of the information supplied. Lawyers for Johnson could not immediately be reached for comment. The appeal But now comes the appeal. Prosecutors said that Johnson and another former hsbc executive who is also facing charges, Stuart Scott, devised a scheme to drive up the price of pounds by executing a series of trades before carrying out the trade for Cairn. We transacted at the fix) and because Cairn and Rothschild supposed that the fixing rate would come in cheaper than the full risk transfer price, which, as it happens, it did.
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You should care about the outcome. I suppose deception is common in standard insider trading cases, but there was no deception about what Cairns confidential information would be used for it was clearly understood how to join forex trading south africa by both parties. Ditto, the fact that some traders Cable positions were temporarily booked into p-books (that is, proprietary trading books) rather than in something more innocent sounding. The bald facts of what occurred next are not under dispute virtually every aspect of the deal was recorded electronically in minute detail during the day. 10) The amount of Sterling bought in the market by all the traders combined was almost precisely the amount needed to fill the order hsbc did not overbuy.
Hsbc forex trader trial