Former UBS pair to face trial after denying insider trading

Oliver Gill
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The former UBS employees will stand trial in October 2018 (Source: Getty)

A former UBS compliance officer and a day trader today pleaded not guilty to insider trading.

The pair have been charged by the Financial Conduct Authority (FCA) with making £1.4m.

Fabiana Abdel-Malek, 34, and Walid Choucair, 38, entered the pleas at a hearing at Southwark Crown Court.

Read more: City insider dealer slapped with £350,000 fine on top of prison sentence

The duo were charged by the FCA last month with five counts of insider dealing between June 2013 and June 2014. The FCA alleged Abdel-Malek obtained the information through her role at UBS, Bloomberg reported.

The defendants are accused of illegally trading shares in Elizabeth Arden, Kabel Deutschland, real estate investment trusts BRE Properties and Northstar Realty and US energy firm Targa Resources.

The trial has been scheduled for October 2018.

Read more: Former UBS employee charged with insider trading by FCA

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