UBS Avoids Fines In EU Libor Investigation

Law360, Los Angeles (November 21, 2013, 9:07 PM EST) -- Swiss financial services firm UBS AG has reached an immunity deal with antitrust regulators with the European Union that will keep the bank from paying additional fines for market manipulation of financial benchmark interest rates, The Wall Street Journal reported Thursday, citing people familiar with the matter.

The deal comes after the European Parliament approved new rules in September that would impose lifetime bans, criminal penalties and fines on traders accused of rigging the London interbank offered rate, or Libor. In 2012, UBS reached deals with...
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