The overturning of Mark Johnson’s fraud conviction in July may point out that sellers don’t owe fiduciary duties to their counterparties when pre-hedging giant transactions, in line with attorneys.
Johnson, former head of overseas change money buying and selling at HSBC, was accused of wire fraud involving Scottish vitality firm Cairn over a $3.5 billion greenback/sterling transaction. Within the 2017 judgment, the federal government argued Johnson deliberately ramped up the repair pricing of the pound, subsequently failing
Solely customers who’ve a paid subscription or are a part of a company subscription are in a position to print or copy content material.
To entry these choices, together with all different subscription advantages, please contact information@fx-markets.com or view our subscription choices right here: https://subscriptions.fx-markets.com
You might be at present unable to print this content material. Please contact information@fx-markets.com to search out out extra.
You might be at present unable to repeat this content material. Please contact information@fx-markets.com to search out out extra.
Copyright Infopro Digital Restricted. All rights reserved.
It’s possible you’ll share this content material utilizing our article instruments. As outlined in our phrases and situations, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised Consumer could solely make one copy of the supplies for their very own private use. You need to additionally adjust to the restrictions in clause 2.5.
If you need to buy further rights please e-mail information@fx-markets.com
