UBS Near $450 Million Settlement with US, UK Over Libor
Filed under: Company News, Banking
By Martin de Sa’Pinto
ZURICH, Dec 3 (Reuters) – Swiss bank UBS AG (UBS) is expected to pay more than $450 million to U.S. and British authorities to settle claims some of its employees submitted false Libor rates, the New York Times reported.
In June, British bank Barclays Plc (BCS) was fined $453 million for manipulating Libor benchmark interest rates, becoming the first bank to settle in the ongoing probe, prompting the resignation of its chairman and chief executive.
UBS was the first…
UBS Near $450 Million Settlement with US, UK Over Libor originally appeared on DailyFinance.com on 2012-12-03T09:30:00Z.
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