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)