Nicole Sprinzen, a member of Cozen O’Connor’s White Collar Defense & Investigations Practice Group, discusses the significance of the upcoming sentencing and likely appeal of a former HSBC executive’s fraud conviction in Law360. According to Nicole, the case of Mark Johnson, who was convicted of defrauding a bank client by trading ahead of a $3.5 billion foreign currency exchange, is an example of prosecutors reestablishing the line between criminal conduct and common market practices, with the difference being intent. “The question is what makes it improper front-running and therefore an illegal fraud versus balancing risk,” said Nicole. “If the appeals are sustained, or they continue to have some success at trials, I think you are going to see more,” she continued.

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