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Swiss bank UBS fined for libor rate fraud

2012-12-19 129 Dailymotion

Swiss bank UBS has agreed to pay a fine of 1.5 billion US dollars after admitting libor fraud. <br /><br />The penalty, equivalent to more than 1.1 billion euros, will be paid to US, UK and Swiss regulators. <br /><br />The bank's chief executive Sergio Ermotti has told staff it is too early to say how and if customers were affected by the fraud. <br /><br />...<br />http://www.euronews.net/

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