Wednesday, 19 December 2012

UK's FSA fines UBS 160 million pounds for Libor rigging

LONDON | Wed Dec 19, 2012 1:19am EST

UBS said separately on Tuesday it will pay a total of 1.4 billion Swiss francs to settle charges with Swiss, UK and U.S. regulators for manipulating the London interbank offered rate (Libor).

"The integrity of benchmarks such as LIBOR and EURIBOR are of fundamental importance to both UK and international financial markets. UBS traders and managers ignored this," FSA director of enforcement Tracey McDermott said in a statement.


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