Libor Rate

UBS to Pay $1.5 Million in Fines Over LIBOR Scandal

To various international regulators

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Switzerland's UBS AG agreed Wednesday to pay some $1.5 billion in fines to international regulators following a probe into the rigging of a key global interest rate. 

In admitting to fraud, Switzerland's largest bank became the second bank, after Britain's Barclays PLC, to settle over the rate-rigging scandal. The fine, which will be paid to authorities in the U.S., Britain and Switzerland, also comes just over a week after HSBC PLC agreed to pay nearly $2 billion for alleged money laundering. 

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