FCA Investigated Trader’s Citigroup ‘Source,’ UK Jury Told

Law360, London (June 3, 2019, 7:32 PM BST) -- The U.K.’s Financial Conduct Authority has investigated a tip that a Citigroup employee served as a "source" for a wealthy investor connected to a day trader charged with taking insider information from a former UBS compliance officer, a London jury heard Monday.

Counsel for a day trader accused of insider dealing told a London jury Monday that, according to an informant, a wealthy investor connected to the trader had a “source” of valuable trading information inside Citigroup. (AP)

The revelation came during the FCA’s trial against Walid Choucair, who the regulator says made £1.4 million ($1.8 million) on confidential information given...

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