A US court is dropping its charges against a financial research analyst accused of fraud.

Financial research analyst Trent Martin looked set to have a grim future ahead of him after he'd entered a guilty plea to a charge of conspiracy to commit securities fraud.

The charges came after Martin allegedly bought SPSS shares following a tip the company was being taken over by IBM.

But he's not completely off the hook - as prosecutors say they could refile charges at a later date.