Fair 17°
Tag:

Derivative Trading

News
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…

SHARE

by Zak Failla