The former chief executive of UBS (UBSN.VX) blamed “mercenaries” for its role in the global interest-rate rigging scandal that has further undermined the Swiss bank’s once venerable reputation. UBS was fined a record $1.5 billion last month for manipulating Libor interest rates, the latest in a string of debacles – […]
Tag: LIBOR
UBS Says Cleaning Up Its Act After Libor ‘Shocker’
UBS has yet to fully purge itself of a global interest rate scandal that has cost the Swiss bank its reputation and put it at risk of a wave of costly civil suits, its investment banking chief said on Wednesday. The once-venerable institution was fined a record $1.5 billion last […]
At least three banks seen central to Libor rigging
By Carrick Mollenkamp and Emily Flitter | Reuters New details from court documents and sources close to the Libor scandal investigation suggest that groups of traders working at three major European banks were heavily involved in rigging global benchmark interest rates. Some of those traders, including one who used to […]
