UBS agrees to pay €1.1bn Libor-rigging penalty

Swiss bank UBS agreed today to pay £940m (€1.1bn) to regulators in the biggest penalty yet from the industry’s Libor-rigging scandal.

UBS agrees to pay €1.1bn Libor-rigging penalty
Wed, 19 Dec, 2012 - 07:14

Swiss bank UBS agreed today to pay £940m (€1.1bn) to regulators in the biggest penalty yet from the industry’s Libor-rigging scandal.

The settlement, which includes a record fine of £160m (€196.8m) from the UK’s Financial Services Authority, is far larger than the total of £290m (€356.7m) paid by Barclays for Libor manipulation this summer.

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CourtsBusinessHeathrowPlace: UKPlace: ZurichPlace: LondonPerson: Kweku AdoboliPerson: Tracey McDermottEvent: Libor-rigging scandalOrganisation: UBSOrganisation: SwissOrganisation: Financial Services AuthorityOrganisation: BarclaysOrganisation: FSAOrganisation: LIBOROrganisation: EuriborOrganisation: US Department of JusticeOrganisation: Serious Fraud OfficeOrganisation: Royal Bank of Scotland
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