Law360, New York (December 19, 2012, 7:02 PM EST) -- Wednesday's guilty plea from a UBS AG unit for rigging the London interbank offer rate shows how prosecutors can bring a charge while sidestepping the threat a criminal indictment can pose to a bank's existence, but attorneys say it also reinforces that global banks remain too big to indict.
Since the financial crisis, the public has clamored for criminal charges against large banks and their executives. But prosecutors have been reluctant to bring such cases, knowing an indictment could cost a bank its charter to operate in the U.S. — a likely death sentence.
“In the world today of large institutions,...
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!