Compliance Officer jailed for insider dealing

London court jailed UBS former compliance officer after being found guilty of insider trading.

The compliance officer and a day trader involved in the accusations faced the court decision for incarceration over a period of 3 years.

The elaborate scheme included the use of UBS trade system and disposable SIM cards to communicate the information to the day trader in order to access to the market in real time.

The fraudulent operation managed to gain over £1 million between 2013 and 2014. In which the judge noted as a deliberate and dishonest operation which lasted one year.

In conclusion, text book cases of insider dealing keep happening and controls not always manage to detect them on time.



Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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