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Review of Case Materials
Reviews records, documents, testimony, data, and other relevant materials and consults with counsel regarding technical issues related to the matter.
Provide Expert Analysis
Applies specialized knowledge and experience to evaluate the technical or professional issues involved.
Form Expert Opinions
Develops independent, supportable opinions based on the available evidence and relevant standards.
Prepare Expert Reports
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The analysis may involve trade confirmations, dealing records, account statements, timestamps, quoted and executed exchange rates, bid-ask spreads, transaction fees, currency positions, agreements, and communications surrounding the trade. These materials can be used to reconstruct what was bought or sold, at what rate, when the transaction occurred, and how the resulting financial outcome was calculated. OCC describes foreign exchange as the purchase and sale of international currencies and notes that financial institutions use the market for purposes including obtaining foreign currency and managing losses arising from exchange-rate changes.
A spot transaction generally involves exchanging currencies for near-term settlement. A forward transaction establishes an exchange of currencies for a future settlement date at agreed terms. A foreign exchange swap combines two currency exchanges with different value dates, commonly pairing a near-term exchange with a later reversing transaction. Federal Reserve supervisory materials describe foreign exchange swaps as simultaneous currency transactions with two value dates, including spot-against-forward structures. An expert can identify the structure actually used and calculate the financial consequences from the governing records.
A dispute may involve the rate source used, the time at which a rate was determined, the spread between buying and selling prices, a dealer markup, conversion methodology, or whether the executed rate corresponds with the transaction records. The expert can compare the documented rate with relevant market data and transaction terms, then separate changes caused by currency-market movement from amounts attributable to spreads, fees, timing, or execution. The appropriate benchmark depends on the transaction and time period rather than on a single universal exchange rate.
Retail foreign exchange transactions can involve specialized regulatory requirements depending on the product, counterparty, and method of trading. The CFTC regulates specified off-exchange retail foreign currency transactions and intermediaries and maintains requirements concerning registration, disclosures, recordkeeping, financial reporting, and business conduct for covered firms. A Foreign Exchange Expert Witness can examine the transaction and industry-practice record within the expert's qualifications. The permissible scope of opinions concerning regulatory compliance depends on the governing law, jurisdiction, and applicable rules of evidence.
Foreign Exchange, +4
Banking
Prepares clear, well-supported expert reports outlining methodology, analysis, findings, and opinions.
Provide Deposition Testimony
Explains findings and opinions under oath and responds to questioning during deposition testimony.
Testify in Court
Presents specialized findings and opinions clearly to judges, juries, arbitrators, or other decision-makers.
