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- Inside Scaramucci’s Extreme Loyalty to Trump – William Cohan
- Who President Trump Can Pardon, and Who He Can’t
- Ex-UBS Compliance Officer, Day Trader Deny Insider Trading
- Private Equity’s Big Bets on Financial Tech
- Trump Reportedly Floats Making Rudy Giuliani Attorney General
- Mastercard Wins Dismissal of $18 Billion Class Action Suit
- Jailed Schroders Trader Also to Pay $456K for His 'Criminal Lifestyle'
- Raymond Lucia, Ex-Radio Host Asks U.S. Top Court to Rule On Administrative Law Judges
- As Trump Administration Circles the Drain, Anthony Scaramucci Finally Lands West Wing Job
- Internal Power Struggle Rattles Guggenheim Partners
- Why Most People Will Never Be Successful
- Top Deutsche Bank Trader Leaves After Risky Bets Led to $60Mn Loss
- Bank of America Picks Dublin as EU Hub Post Brexit
- E*Trade Rises 4% as Q2 Earnings Beat Estimates
- I Scream, You Scream, FINRA Screams For Ice Cream ... or ... FINRA Deep-Freezes Broker
- Senate Panel OK's David Kautter, Trump Pick for Top Treasury Tax Job
- OJ Simpson Granted Parole After 9 Years in Prison
- PayPal to Partner with JPMorgan
- BNY Mellon Beats on Q2 Earnings as Revenues Improve
- I Scream, You Scream, FINRA Screams for Ice Cream ... or ... FINRA Deep-Freezes a Broker
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NEWSLETTERS & ALERTS
Ex-HSBC Banker Scott Arrested on Forex Manipulation Charges
Stuart Scott, former head of HSBC currency trading in Europe, was arrested in London on U.S. charges that he, along with his direct report, Mark Johnson, conspired to rig forex markets. Johnson, who was HSBC’s global head of forex cash trading, was arrested last July as he tried to board a plane in NYC’s JFK Airport.
Since then, federal prosecutors have been trying to bring Scott to the U.S. to face charges. His arrest in London is just the first step toward fulfilling that goal. However, it may take at least another year before Scott steps foot in the U.S. – i.e., if he fights extradition.
The pair stand accused of manipulating the pound sterling by front-running a client’s (Cairn Energy Plc) $3.5 billion currency transaction. In doing so, they generated some $8 million in profit for the bank. Because the conspiracy supposed took place within the territory of New York, it is subject to U.S. jurisdiction.