Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

UBS could face $1bn fine for Libor rigging

UBS could face $1bn fine for Libor rigging

UBS could be fined around $1 billion by US and UK regulators to settle claims the bank was involved in rigging Libor, according to reports.

The fine would be more than double the record amount paid by Barclays earlier this year, which amounted to $467.9 million, the Financial Times reported.

The charge would mark another landmark fine imposed on a bank that is understood to have been involved in the Libor-rigging scandal.

One source told Reuters: ‘The global settlement is about $1 billion. It's expected early next week, on Monday or Tuesday.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: from Batman Live to commodity beta

Profile: from Batman Live to commodity beta

Charteris may be a family affair, but the company is not at any risk of turning sentimental

Wealth Manager on Twitter