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The jury at Southwark Crown Court has found Fabiana Abdel-Malek, a former employee of UBS Group AG, and her family friend Walid Choucair guilty of three counts of insider dealing. (AP)

Ex-UBS Worker, Day Trader Convicted Of Insider Dealing

A jury in London found a former UBS compliance officer and her trader friend guilty of insider dealing in a partial verdict on Tuesday, a win for the Financial Conduct Authority in its long-running prosecution of the pair.

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AIG Can't Rehash Challenge To Unpaid Bonuses

A London judge on Tuesday mostly barred AIG from making new arguments about why it shouldn't have to pay former employees bonuses that could run more than $100 million, ruling that the financial giant can't raise new defenses during the damages phase of the case.

Credit Suisse Takes On HMRC Over Crisis-Era Bonus Tax

Credit Suisse has accused the British government of violating European competition law when it levied a one-off tax on bankers' bonuses in the aftermath of the financial crisis, as a trial over the lender’s £239 million ($304 million) damages claim against the tax authority kicked off in London on Tuesday.

Ex-Unaoil Exec Pleads Not Guilty To SFO Bribery Charges

A former executive at Unaoil Ltd., a Monaco-based oil consultancy accused of bribery in Iraq, pled not guilty at a London court on Tuesday to allegations that he conspired to pay officials to secure contracts in the Middle Eastern country for one of the company’s clients.

UK, US Watchdogs Crack Down On 'Opportunistic' Defaults

Financial regulators in Britain and the U.S. have said they will work together in derivatives markets to tackle “opportunistic strategies” employed by companies, such as deliberately missing payments to force a default and get compensation from credit-default-swap contracts.

Feds Spar With UBS Over Crisis-Era RMBS Fraud Suit

UBS AG has told a New York federal court that the U.S. Department of Justice lawsuit accusing the bank of fraud in its precrisis sales of residential mortgage-backed securities falls short by not calling out any specific employees, but the government insists that it has alleged all it needs to for the case to proceed.

SFO Case At Risk As Airbus Shuts Unit Facing Bribery Probe

The planned closure of an Airbus subsidiary operating in Saudi Arabia could jeopardize the Serious Fraud Office's bribery probe against the aerospace corporation’s U.K. unit.

Switzerland Gov't To Bar Swiss Shares From EU Exchanges

Switzerland's government said Monday it is prepared to ban Swiss shares from trading on European Union stock exchanges starting in July unless the EU extends its regulatory equivalence regime to allow the country access to the bloc's exchanges.

Santander To Pay Allianz €937M To End Spanish Joint Venture

Banco Santander SA said Monday that it has agreed to pay €936.5 million ($1 billion) for insurer Allianz’s 60% stake in their joint venture, which distributes insurance and pension products in Spain.

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