HSBC FX executive charged with front-running order

Global head of foreign exchange cash trading arrested on Tuesday night and charged with front-running order

HSBC HQ at Canary Wharf, London
HSBC HQ at Canary Wharf, London Photo: iStockPhoto

US authorities arrested and charged HSBC’s global head of foreign exchange cash trading Tuesday night, alleging he and others front ran a client order and netted millions in profits.

Mark Johnson was arrested by Federal Bureau of Investigation agents Tuesday night at John F Kennedy international airport in New York, according to a person familiar with the matter. He will appear in Brooklyn federal court later Wednesday.

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