Seeking DOJ's Leniency A Tough Sell For Banks: UBS Counsel

Law360, New York (January 24, 2013, 9:33 PM EST) -- Financial services companies balancing both antitrust and industry regulatory probes face considerable risks in seeking leniency with the U.S. Department of Justice that could ultimately undermine the effectiveness of the competition watchdog's immunity program, counsel for UBS AG said Thursday.

UBS was the first to come forward to the DOJ about a plot to manipulate the London Interbank Offered Rate, but even though it won immunity from the Antitrust Division it still had to pay $1.5 billion in December to settle a variety of other allegations...
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