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By Lindsay Fortado, Phil Mattingly and Silla Brush, Bloomberg |
December 19, 2012
UBS AG will pay about $1.5 billion and two former traders face prison as the bank settled charges with U.S. and U.K. authorities for manipulating interest rates in a global conspiracy to boost profits and bonuses.
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By Lindsay Fortado, Gavin Finch and Liam Vaughan, Bloomberg |
December 19, 2012
UBS AG’s $1.5 billion fine for rigging global interest rates expands the scandal to include bribery and highlights the influence of a trader in Tokyo who colluded with other banks to align their submissions.
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By Lindsay Fortado, Bloomberg |
December 3, 2012
UBS AG, Switzerland’s biggest lender, is close to agreements with U.S. and U.K. regulators to pay more than 290 million pounds ($466 million) in fines over allegations traders tried to rig global interest rates.
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By Kit Chellel, Bloomberg |
November 14, 2012
Barclays Plc must disclose the identities of Libor traders and employees that made submissions to set interest rates, after a ruling in the first U.K. lawsuit related to manipulation of the London interbank offered rate.
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By Lindsay Fortado, Bloomberg |
November 9, 2012
U.K. prosecutors are poised to arrest former traders and rate setters at UBS AG, Royal Bank of Scotland Group Plc and Barclays Plc within a month for questioning over their role in the Libor scandal.
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By Ben Moshinsky and Lindsay Fortado, Bloomberg |
September 28, 2012
Proposals to overhaul Libor, including enhanced powers for U.K. regulators to prosecute rate rigging, may be enacted early next year in a bid to revive confidence in the scandal-ridden benchmark and banking industry.
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By Lindsay Fortado and Kitty Donaldson, Bloomberg |
September 27, 2012
U.S. investigators conducting a criminal probe of interest-rate manipulation have asked their British counterparts for permission to interview London traders.
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By Gavin Finch and Liam Vaughan, Bloomberg |
September 26, 2012
The British Bankers’ Association signaled it will give up oversight of the London interbank offered rate following claims traders manipulated the benchmark.
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By Andrea Tan, Gavin Finch and Liam Vaughan, Bloomberg |
September 26, 2012
Royal Bank of Scotland Group Plc trader Tan Chi Min told colleagues the firm was able to move global interest rates, according to court filings.
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By Liam Vaughan, Gavin Finch and Andrea Tan, Bloomberg |
September 25, 2012
Royal Bank of Scotland Group Plc managers condoned and participated in the manipulation of global interest rates, indicating that wrongdoing extended beyond the four traders the bank has fired.
