Only two convictions for insider trading in the past 5 years

An article in The Times today revealed that Fabiana Abdel-Malek and Walid Choucair were the only two defendants who have been successfully prosecuted for insider trading in the last 5 years. Instructed by the FCA, Barry Stancombe acted in the restraint proceedings of both defendants, and with Catherine Collins in the confiscation proceedings against Abdel-Malek. Catherine Collins was also junior counsel in the Choucair confiscation proceedings led by John McGuinness QC. The article provides:

"A freedom of information (FOI) request by The Times to the Financial Conduct Authority (FCA) shows that in the past five years they are the only people to be convicted of insider dealing...

Abdel-Malek used her position to obtain market-sensitive information and passed it to Choucair, who made trading profits of at least £1.4 million from the data. They were jailed for three years and a confiscation order demanded the return of their illegal profits."