HSBC Gets Time To Disclose Trader Chats In Forex Suit
Law360, London (February 10, 2020, 7:16 PM GMT) -- HSBC avoided having to trawl through its traders’ messages over allegations it rigged foreign exchange markets after a London judge told a client who suspects it was a victim of front-running by the bank’s traders the court needed more information to make a decision in relation to its disclosure requests.
High Court Judge Clare Moulder ruled Monday that she didn't have enough information to force HSBC to conduct a sweeping search of communications between its traders to support allegations that currency firm ECU Group PLC was being ripped off by the bank’s traders front-running its forex orders.
ECU argued that HSBC...
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