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News Breaks
December 19, 2012
11:17 EDTUBSDOJ files charges against UBS Securities Japan for LIBOR manipulation
The Justice Department is filing a criminal information charging UBS Securities Japan – a subsidiary of the multinational financial institution UBS – with felony wire fraud for engaging in a scheme to manipulate the London Interbank Offered Rate, or LIBOR – a key benchmark for financial products and transactions around the world. The company has agreed to plead guilty to this charge, to admit to its criminal conduct, and to pay a $100M fine. UBS AG – the parent company of UBS Japan – has agreed to pay a penalty of $400M to the U.S government; to admit and accept responsibility for its misconduct; and to continue cooperating with the Department’s ongoing investigation as part of a non-prosecution agreement. Combined with roughly $1 billion in regulatory penalties and disgorgement, these criminal fines and penalties bring today’s total resolution to approximately $1.5B. The non-prosecution agreement illustrates the significant steps that UBS has taken to help investigators uncover LIBOR misconduct, and to implement remedial measures strengthening the company’s internal controls. Reference Link
News For UBS From The Last 14 Days
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October 6, 2015
07:30 EDTUBSbloomberg to hold a summit
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October 1, 2015
08:00 EDTUBSSecurity Traders Association to hold a conference
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07:28 EDTUBSSEC Commissioner calls for increased transparency for dark pools, Reuters says
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September 29, 2015
13:22 EDTUBSUBS PR reaches $34M settlement with SEC, FINRA
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13:16 EDTUBSFINRA sanctions UBS Puerto Rico $18.5M for supervisory failures
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September 28, 2015
06:20 EDTUBSCOMCO probing UBS, Julius Baer for metals market price fixing, AFP reports
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