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Singapore: UBS under investigation for alleged LIBOR rate manipulation

 |  October 31, 2012

The Swiss bank has announced an investigation has begun into whether UBS in Singapore manipulated LIBOR interest rates, potentially in part of a larger conspiracy with more than a dozen other banks around the globe, including in the U.S., Europe and Asia. UBS has been granted immunity by some authorities after it became the first bank in the world to report suspected rate-rigging. The Monetary Authority of Singapore, as well as authorities from the U.S., Switzerland and the U.K., are investigating the matter.

Full Content: Reuters

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