UBS Japan pays US $100m in Libor rate-fixing case

GMT 18:54 2013 Wednesday ,18 September

Arab Today, arab today UBS Japan pays US $100m in Libor rate-fixing case

Arab Today

A federal judge Wednesday signed off on a $100 million fine on UBS's Japan subsidiary, part of a larger global crackdown on the Swiss banking giant in the Libor rate-rigging scandal. US District Judge Robert Chatigny sentenced UBS Securities Japan Co. Ltd. to a $100 million fine in which it also admitted criminal conduct. The fine is part of a $1.5 billion settlement agreed by parent UBS last December with Swiss, British and US regulators.

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