UBS to pay $545m to US authorities over forex and Libor scandals

(Before It's News)

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UBS to pay $545m to US authorities over forex and Libor scandals | 20 May 2015 | UBS will pay a total of $545m to US authorities to settle allegations that arose in an investigation into the rigging of foreign exchange and Libor benchmarks. The Swiss bank will be hoping the payment draws a line under multiple trading scandals lasting several years. The fine, much lower than expected, includes a $342m Federal Reserve penalty related to forex activities, the bank said in a statement on Wednesday. It will not be paying a fine on forex to the Department of Justice and will not face criminal charges on the matter.

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