Europe, Blue Book, Detroit discussed on Bloomberg Daybreak: Europe


The polls since europe's refugee crisis in two thousand fifteen global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries and beyond guarantee this is playing bag guy antiguerrilla today let's take a closer look at what are the top stories on the blue book this morning global comes detroit this will be put on high alert for new jury convicted former hsbc executive mark johnson of fraud for frontrunning he faces a maximum sentence of twenty years in prison though he's likely to get much less joining us now the story is bloomberg enforcement and investigations of puerto cg ring what was the social service were guilty of he's gone guilty of fraud by found running at three point five billion dollar transaction that thank did can canada as combating and from two listen tastes telling and and i think the important thing that we can take from this is there's always been this debate around wettest pre hedging end on wettest front running begin and that line has gained by clearly drouin in this case to say like has dissipated aligned this has gone beyond presents a because they didn't tell the client all come to explain why again is this whole debate around kind of what was the relationship that and oversee the bank has taken a set amount of risk limiting transaction like this is going to meet the mock and they do need to hedge themselves and it's about having connect clarity around what does that relationship what is the client now ahead of the tail are they play cognizant of the fact of the bank his can't be an easy to take them this isn't that did at what stage a was hitch they stop buying and that sort of thing was the bank singapore unity tape profit hair against the clients in chests so to be clear susie we're not talking about mark johnson trading for his pa right we're not talking about him making any money for himself night we're talking about making it for his which ultimately oveissi he then does benefit from it has a recognition by remediation benaissa's six at the end of the year right so but making money for the bank and.

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