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UBS To Pay $68M, Multi-State Settlement For Artificially Manipulating Interest Rates UBS To Pay $68M, Multi-State Settlement For Artificially Manipulating Interest Rates
UBS To Pay $68M, Multi-State Settlement For Artificially Manipulating Interest Rates A multinational bank has agreed to a multi-million, multi-state settlement for artificially manipulating interest rates, New York Attorney General Barbara Underwood announced. Underwood announced on Friday that UBS has agreed to a 40-state $68 million settlement for fraudulent conduct involving the manipulation of the London Interbank Offered Rate (LIBOR), by “misrepresenting the integrity of the LIBOR benchmark.” According to Underwood, LIBOR is a benchmark interest rate that affects financial instruments worth trillions of dollars and has a far-reaching impact on global markets and consum…

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by Zak Failla