Ex-UBS compliance boss to appear in court for insider dealing

Former compliance officer at UBS worked at the investment bank for more than a decade.

A former compliance officer at UBS will appear in court having been charged with five counts of insider dealing.

Fabiana Abdel-Malek allegedly passed on information to Walid Choucair who traded on the information between June 2013 and June 2014.

Abdel-Malek worked at UBS for more than 10 years in compliance for investment banking including structured financing, corporate derivatives, leveraged finance and corporate lending.

Choucair was a director at BAC Investments until 2003, according to company filings. 

Both are due to appear at the Southwark Crown Court in July for a plea and trial preparation hearing.

On conviction, they face a fine and/or up to seven years imprisonment.

The FCA has upped its efforts in recent years to stamp out insider dealing, having seen a record number of 70 cases in 2016.