UBS says not fined in currency rigging probe but must pay US $342 mn

Swiss banking giant UBS said Wednesday that the US Department of Justice had dropped charges against it after a probe into currency rigging. The bank must nevertheless pay a $342-million penalty (307 million) to the Federal Reserve, the bank said in a statement. A previous agreem

Editorial Team Legacy

Published 20 May 2015, 8:00 · Updated 21:41

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Swiss banking giant UBS said Wednesday that the US Department of Justice had dropped charges against it after a probe into currency rigging.

The bank must nevertheless pay a $342-million penalty (307 million) to the Federal Reserve, the bank said in a statement. A previous agreement with US authorities struck in 2012 over the Libor scandal into manipulation of benchmark interest rates, however, has been overturned.

UBS says not fined in currency rigging probe but must pay US $342 mn

Editorial Team Legacy

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