UK's FSA fines UBS 160 million pounds for Libor rigging
LONDON Dec 19 (Reuters) - Britain's Financial Services Authority fined Swiss bank UBS 160 million pounds for manipulating the Libor interest rate in four countries over six years.
UBS said separately on Tuesday it will pay a total of 1.4 billion Swiss francs to settle charges with Swiss, UK and U.S. regulators for manipulating the London interbank offered rate (Libor).
"The integrity of benchmarks such as LIBOR and EURIBOR are of fundamental importance to both UK and international financial markets. UBS traders and managers ignored this," FSA director of enforcement Tracey McDermott said in a statement.
- Special Report: Thailand secretly supplies Myanmar refugees to trafficking rings |
- NSA gathers data on cellphone locations globally: report
- The 10 Most Corrupt and Least Corrupt Countries in the World
- Dementia epidemic looms with 135 million sufferers seen by 2050
- Obama says he's not allowed iPhone for 'security reasons'