RBS, UBS traders said to face arrest within month in Libor probe

UBS Review

UBS has fired more than 25 people after an internal review of interest-rate manipulation, a person familiar with the matter said. Robert Diamond, who stepped down as Barclays chief executive officer after the fine, said 14 traders were involved in wrongdoing at the bank.

The SFO has “hoovered up all the stuff from the FSA and loaded it onto our computers,” Green said. It has also received evidence from the U.S. Federal Bureau of Investigation and some of the banks.

The SFO is cooperating with a request from the U.S. Department of Justice for access to information from the U.K., Green said. That could include investigators from the DOJ sitting in on interviews that the SFO conducts with suspects, or having access to evidence the agency has gathered.

The request, which came under a mutual legal assistance treaty, or MLAT, was initially stalled while the SFO sought to get up to speed on the case. The DOJ submitted an amended request in recent months with “very substantial” information sought, Green said.

“Obviously when we first received it there was anxiety that execution of the request could mop up SFO resources,” he said. “We are anxious to execute it” and will “certainly” assist, he said.

Green said the agency, while working closely with the DOJ, is also competing to bring charges first in order to handle the prosecution of any British citizens in the U.K., reducing the chance of extradition.

The SFO’s previous director, Richard Alderman, had declined to get involved in the case. Green took over as director in April.

Bloomberg News

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