July 21, 2016

21 July 2016

New case on front-running

The criminal complaint brought by the U.S. DOJ against currency traders marks another example of a “front running” case.  In the complaint, prosecutors allege defendants used “information provided in confidence” by the victim company to purchase Sterling in advance of the transaction — “a scheme that is commonly referred to as ‘front running’” in breach of the duty of trust and confidence owed to the victim company.