UBS Japan Fined $100M For Libor Manipulation

Law360, New York (September 18, 2013, 9:24 PM EDT) -- A Connecticut federal judge on Wednesday approved a $100 million fine as part of a plea agreement between the federal government and UBS Securities Japan, which had pled guilty to secretly manipulating Libor benchmark interest rates.

Combined with more than $1 billion in regulatory penalties and disgorgement already imposed, Wednesday’s criminal penalties bring the total price paid by UBS to more than $1.5 billion. UBS pled guilty in December and agreed to the jointly proposed penalty last week.

“Through its guilty plea and sentence, UBS has...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.