More than 30 traders at UBS are set to be implicated this week in the rigging of benchmark interest rates as part of a $1.5 billion settlement, it was claimed yesterday.
UBS is expected to admit that staff were involved in manipulating yen Libor between 2005 and 2010 as it becomes the latest big bank to agree a deal with financial regulators, according to reports.
The agreement, with the Financial Services Authority, the United States Department of Justice and Commodities and Futures Trading Commission and Finma, the Swiss financial watchdog, is expected to be announced tomorrow. It comes as Royal
Source:
http://www.ezonearticle.com/2012/12/17/ubs-ready-to-admit-libor-rigging-in-settlement/
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