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Home > UBS faces $1.6 billion fine over Libor rigging: paper

UBS faces $1.6 billion fine over Libor rigging: paper [1]

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Reuters ZURICH | Sat Dec 15, 2012 7:36am EST

 

Commentary: What happened yesterday while all were busy with another story.  Convenient or planned timing for this announcement?

The UBS logo is seen at the UBS 40th Annual Global Media and Communications Conference in New York, December 5, 2012. REUTERS/Carlo Allegri

The UBS logo is seen at the UBS 40th Annual Global Media and Communications Conference in New York, December 5, 2012.

Credit: Reuters/Carlo Allegri

(Reuters) - UBS (UBSN.VX) faces a fine of 1.5 billion Swiss francs ($1.63 billion) to settle interest rate rigging charges, a Swiss newspaper reported on Saturday.

Citing unnamed sources, Tages-Anzeiger daily said the bank would admit 36 traders around the globe manipulated yen Libor between 2005 and 2010. A UBS spokesman declined to comment.

To read the rest of this story visit Reuters [2]

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Source URL: //soundofheart.org/galacticfreepress/content/ubs-faces-16-billion-fine-over-libor-rigging-paper

Links
[1] //soundofheart.org/galacticfreepress/content/ubs-faces-16-billion-fine-over-libor-rigging-paper
[2] http://www.reuters.com/article/2012/12/15/us-ubs-libor-fine-idUSBRE8BE05M20121215
[3] //soundofheart.org/galacticfreepress/type-post/3d-news