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UBS fined £940m for rate-rigging

Swiss bank UBS has agreed to pay £940 million in penalties over fixing the Libor interbank lending interest rate. The penalty was agreed with US, UK and Swiss regulators. It is to pay a record £160 million fine to the Financial Services Authority.

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Financial Services Authority to receive part of UBS penalty

  • £160 million of the UBS fine will go to the UK's Financial Services Authority
  • The FSA says at least 45 people were involved in the rigging
  • The remainder of the fine will be divided up between the US Department of Justice, Commodity Futures Trading Commission and Swiss regulator Finma

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