$1.5 billion fine on UBS over Libor manipulation

Swiss bank UBS has been fined $1.5 billion over the manipulation of Libor benchmark rate.

It is the second biggest fine ever on a global bank after HSBC which was recently fined a record $1.92 billion after being accused by U.S. prosecutors of failing to enforce rules designed to prevent money laundering.

Month: Current Affairs - December, 2012