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.
Your Business: Cover Star Club

Profile: Stanhope's charity gatekeeper on the power of consultants

Profile: Stanhope's charity gatekeeper on the power of consultants

Charles Mesquita has sympathy for funds stuck outside the consultant circle of trust - up to a point

Wealth Manager on Twitter