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Mon Dec 3, 2012, 08:22 AM

UBS could pay $450m to settle Libor claims

Source: Reuters

UBS could pay 450m to settle Libor claims

Reuters
guardian.co.uk, Monday 3 December 2012 08.50 GMT

The Swiss bank UBS is close to a settlement with US and British authorities and is expected to pay more than $450m (280m) over claims that some of its employees submitted false Libor rates, the New York Times reported.

A UBS spokeswoman told Reuters that the bank was in the midst of discussions with authorities in the two countries in connection with Libor investigations and had been co-operating fully with the regulatory and enforcement authorities, but gave no further details.

"As we are in the midst of discussions with those authorities, we cannot comment further," the UBS spokeswoman Karina Byrne said.

-snip-


Read more: http://www.guardian.co.uk/business/2012/dec/03/ubs-libor-450m-dollars

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Reply UBS could pay $450m to settle Libor claims (Original post)
Eugene Dec 2012 OP
Ghost Dog Dec 2012 #1

Response to Eugene (Original post)

Mon Dec 3, 2012, 11:38 AM

1. Capital punishment and confiscation of all wealth found in the hands of the guilty

parties and all members of their immediate families.

It's the only way.

UK's lost prestige/so-called-honour can never be fully repaid.

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