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Switzerland: LIBOR fine for UBS may be new record

 |  December 3, 2012

A more than $466 million fine may soon be paid by UBS AG to U.S. and U.K. antitrust regulators to settle allegations that the lender manipulated the LIBOR interest rates, says a source. If the fine is upheld – a decision the source says could be announced next week – it will surpass Barclays Plc’s previous record fine. UBS, Switzerland’s largest lender, had additionally held an internal probe that led to 25 people leaving the company.

Full Content: Bloomberg

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