As Criminal Charges Await HFT Players, Supreme Court Challenge Looms

When David McGill and Benjamin Sauter look at recent high-frequency trading (HFT) criminal convictions, they don’t see it as a one-off event: this is a trend where a delicate turning up of the hot temperature on white collar crime in a specific “Wall Street” niche. McGill and Sauter, complex litigation lawyers at Kobre & Kim, see apparent criminal activity memorialized in traceable chat messages in the most recent case and scratch their head at the complexity and shake their head.  As they prepare to fight in US Supreme Court over the first criminal HFT conviction, they look at what is visible – explicitly outlining in a documented chat apparent criminal intent – versus a case where the...