Jury fails to reach majority verdict in UBS insider trading case

An insider trading trial has collapsed after a jury failed to reach a majority verdict in the case against a former UBS compliance office and her day-trader friend.

Former UBS compliance officer Fabiana Abdel-Malek, 36, and day-trader Walid Anis Choucair, 39, were accused of making up to £1.4m through tip-offs, the Financial Times reported.

Both were charged with five counts of insider dealing last year following an investigation by the Financial Conduct Authority and the National Crime Agency.

The alleged offences took place between 3 June 2013 and 19 June 2014. 

The Financial Conduct Authority confirmed that no verdict was reached at a hearing at Southwark Crown Court today.

Insider dealing is punishable by an unlimited fine or up to seven years in prison.