Fabiana Abdel-Malek and Walid Anis Choucair will face criminal proceedings after a joint investigation between the FCA and the National Crime Agency, the FCA said in a statement.
Abdel-Malek worked at Swiss bank UBS’s London branch.
The alleged insider dealing happened started in June 2013 and ended a year later, the FCA said.
Abdel-Malek and Choucair appeared at City of London Magistrates’ Court today. The pair are due to appear at Southwark Crown Court in July.
In a statement UBS said: "We've been working with the FCA in relation to its investigation. As part of the investigation, the FCA asked us to provide information in relation to a sole, mid-level, former employee based in London.
"As this is an ongoing criminal prosecution, and to avoid the risk of prejudicing the course of justice, we are unable to comment further."
If found guilty of insider trading a person can be fined or receive a prison sentence of up to seven years.
The FCA regulates the conduct of 56,000 firms across the UK, from the small fund managers to massive investment banks.
Read more: Two men sentenced in insider trading case
Last year the FCA secured the convictions of an accountant and a former Deutsche Bank director, Martyn Dodgson, in its landmark Operation Tabernula investigation.
Dodgson was sentenced to four and a half years in prison, the longest sentence to date in an insider trading case. Meanwhile the accountant, Andrew Hind, received three and a half years.
The latest charges come a day after the FCA's director of investigations called for a more targeted approach on enforcement actions against individuals, rather than businesses.
Jamie Symington said the regulator should open more investigations and be prepared to pursue responses to misconduct beyond just fines and imprisonment.