Sunday September 27, 2020

UBS fined €1.2bn for manipulating Libor rate

UBS agreed to pay about 1.4 billion Swiss francs (€1.2 billion) in fines and disgorgement of profits to the US, UK and Swiss regulators for trying to rig global interest rates.

19th December, 2012
2
UBS said today it expects to report a fourth-quarter loss of between 2 billion francs and 2.5 billion francs.

UBS, Switzerland’s biggest bank, agreed to pay about 1.4 billion Swiss francs (€1.2 billion) in fines and disgorgement of profits to the US, UK and Swiss regulators for trying to rig global interest rates, more than triple the amount levied against Barclays.

The company will pay €160 million in fines to the UK Financial Services Authority and 59 million francs as disgorgement of estimated profits to the Swiss Financial Market Supervisory Authority, UBS said...

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