UBS former compliance officer convicted in London insider dealing case

LONDON (Reuters) - A former UBS compliance officer on Tuesday faced prison after being convicted by a London jury of feeding confidential market tips about planned takeovers to a friend, in a fillip for the prosecutor, Britain's Financial Conduct Authority (FCA). After a two-month re-trial and around seven days of deliberations, a jury at Southwark Crown Court convicted Fabiana Abdel-Malek, 36, and her day-trader friend, 40-year-old Walid Anis Choucair, of three counts of insider dealing between June 2013 and June 2014

Reuters June 26, 2019 00:06:45 IST
UBS former compliance officer convicted in London insider dealing case

UBS former compliance officer convicted in London insider dealing case

LONDON (Reuters) - A former UBS compliance officer on Tuesday faced prison after being convicted by a London jury of feeding confidential market tips about planned takeovers to a friend, in a fillip for the prosecutor, Britain's Financial Conduct Authority (FCA).

After a two-month re-trial and around seven days of deliberations, a jury at Southwark Crown Court convicted Fabiana Abdel-Malek, 36, and her day-trader friend, 40-year-old Walid Anis Choucair, of three counts of insider dealing between June 2013 and June 2014.

The jury has yet to reach a verdict on two further counts against both defendants, the court was told. Insider dealing carries a maximum seven-year jail sentence.

A previous jury had failed to reach a majority verdict in the drawn-out case, which was prosecuted by the FCA.

(Reporting by Kirstin Ridley; editing by Carolyn Cohn)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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