The Traderszone Network

Published in TZ Latest News 19 May, 2015 by The TZ Newswire Staff

UBS says to settle FX probe, pay $545 million, plead guilty over Libor

UBS (UBSG.VX) said on Wednesday it has settled a probe by U.S. authorities over alleged rigging of currency markets by agreeing to pay $545 million in combined fines and pleading guilty to one count of wire fraud in a separate matter. The Swiss bank’s disclosure comes as part of what is expected to be a combined bill of more than $5 billion and criminal charges for five of the world’s biggest banks in a settlement with U.S. and British authorities over the foreign exchange probe.

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