A UBS Japanese investment banking
subsidiary was fined $100 million (CHF91 million) by a US judge on
Wednesday for its role in manipulating the London Interbank Offered Rate
(Libor), a leading benchmark used in financial transactions worldwide.
UBS Securities Japan had pleaded guilty on December 19, 2012 to
secretly manipulating Libor benchmark interest rates, and had signed a
plea agreement with the United States government in which it admitted
its criminal conduct.
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