Forex Group Backs Ex-HSBC Exec Says $3.5B Deal Was Legit

Law360 (September 10, 2018, 6:34 PM EDT) -- A leading foreign currency exchange trade group has come out in support of former HSBC executive Mark Johnson's bid to overturn his conviction for defrauding Cairn Energy PLC in a $3.5 billion transaction, calling it an industry-standard deal that the banker had no reason to believe was illicit.

The ACI Financial Markets Association, a 63-year-old financial industry organization that advocates for best practices and useful regulation in forex and other wholesale capital markets, on Thursday filed an amicus brief at the Second Circuit in support of...

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