Front running analysis

Bates White was retained by a regulator who had sued a bank and several traders alleging that the traders, together with others, participated in a front-running scheme to defraud their client. We were retained to provide consulting support relating to its investigation. We provided analysis of trades on different spot, options, and futures markets. We helped identify trades that could be construed as front running and separated them from other potential legitimate trades. We provided various other analyses to help the regulator in their investigation and eventually in their trial.