UBS In Forex-Rigging Settlement Talks, Warns Of Fines

Law360, Los Angeles (September 29, 2014, 10:29 PM EDT) -- UBS AG told investors Monday it could face a “material” fine by regulators over its alleged role in a scheme to manipulate the $5.3 trillion global foreign exchange market, saying that it was in settlement talks with at least one agency.

The Swiss bank said some investigating authorities “have initiated discussions of possible terms of a resolution” of their probe into whether UBS and others rigged the forex market, though it didn’t specify which regulators it was in talks with, according to a prospectus Monday.

“The terms proposed include findings that UBS failed to have adequate controls in relation to its...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!