Swiss bank UBS has been fined £160 million by the Financial Services Authority, the largest fine ever levied by the City regulator.
The FSA said "at least 2,000 requests for inappropriate submissions" to the rates were documented, and at least 45 individuals, "including traders, managers and senior managers were involved, or aware of the practice of attempt to influence submissions."
The bank was awarded a 20% discount on their fine for early payment.
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