UBS May Settle Libor-Related Charge for $466M
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UBS (NYSE: UBS) is nearing an agreement with U.K. regulators over its involvement in the LIBOR-fixing scandal. Reports say the Swiss bank may announce it settled charges for $466 million as early as next week. If reports prove correct, it would put UBS's fine on par with a similar fine imposed on Barclays (NYSE: BCS) in June.
A dozen banks were accused of colluding to rig LIBOR rates, and investigators set their sights on individual traders, managers, and company pocket books.
UBS was widely viewed as cooperative in the investigation, but it remains to be seen how this will play out in settlement talks.
A dozen banks were accused of colluding to rig LIBOR rates, and investigators set their sights on individual traders, managers, and company pocket books.
UBS was widely viewed as cooperative in the investigation, but it remains to be seen how this will play out in settlement talks.
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