US charges two former UBS traders over Libor rigging

Two former UBS traders have been charged by United States prosecutors in connection with efforts to manipulate Libor interest rates.

The move comes after the Swiss bank was fined £940 million by regulators for "extensive and widespread" attempts to rig interbank lending rates.

Former traders Tom Hayes and Roger Darin have been charged with conspiracy to manipulate the interbank lending rate. Mr Hayes has also been charged with wire fraud and an antitrust violation.

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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.