UBS pays $1.5 bln to settle Libor rigging in Japan

ZURICH | Wed Dec 19, 2012 6:10am GMT

ZURICH Dec 19 (Reuters) - UBS said it will pay 1.4 billion Swiss francs ($1.53 billion) and admit wrongdoing at its Japanese arm to settle a wide-ranging, multi-regulator probe into how the Swiss bank's traders manipulated yen Libor and euroyen contracts.

The Swiss bank's fine is second-largest ever levied against a bank, after Britain's HSBC last week agreed to pay $1.92 billion to settle a probe in the United States into laundering money for drug cartels. [ID: nL4N09L1YE]

Source: http://uk.reuters.com/article/2012/12/19/ubs-libor-idUKG8N09T00820121219?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews

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