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Sarah Clarke QC acts for the FCA in ground breaking appeal: R v Abdel-Malek and Choucair

22nd December 2020

Sarah Clarke QC acts for the FCA in ground breaking appeal against conviction in R v Abdel-Malek and Choucair. This was a high profile insider dealing case involving a compliance director at UBS leaking inside information on forthcoming M&A deals to Choucair who then traded on the information making circa £1.4m in profits.  The defendants appealed on the basis of alleged disclosure failings, however the CACD disagreed holding that there was no irregularity or unfairness in the prosecution’s approach to disclosure during and after the trial.  This was an unusual case in which the CACD heard a PII application prior to the substantive appeal hearing and the case also concerned post trial disclosure of information that came into the FCA’s possession after the trial, and applications by both prosecution and defence to admit further evidence. Sarah Clarke QC is the author of the leading text book on insider dealing – Insider Dealing Law and Practice 2nd edn OUP 2020.

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