(HedgeCo.Net) The Financial Conduct Authority (FCA) has instituted criminal proceedings against Fabiana Abdel-Malek a former compliance officer employed by UBS AG’s London Branch and Walid Anis Choucair following a joint investigation with the National Crime Agency.
Malek and Choucair have each been charged with five counts of insider dealing, contrary to Sections 52(2)(b) and 52(1) of the Criminal Justice Act 1993. The alleged insider dealing took place between 2013 and 2014. Malek and Choucair appeared at Magistrates’ Court on Friday. Insider dealing is a criminal offense punishable, on conviction, by a fine and/or up to 7 years’ imprisonment.