Gibson Dunn advises as UBS reaches £945m Libor settlement
Gibson Dunn & Crutcher has advised UBS on its (£945m) settlement with US and UK authorities over allegations that the Swiss bank tried to manipulate Libor interest rates. UBS announced today (19 December) that it was settling with the US Department of Justice (DoJ) and the Commodity Futures Trading Commission (CFTC), the Financial Services Authority (FSA) in the UK, and the Swiss Financial Market Supervisory Authority (FINMA), over the regulators' investigations into manipulation of the Libor interbank lending rates.
December 19, 2012 at 08:30 AM
3 minute read
Gibson Dunn & Crutcher has advised UBS on its (£945m) settlement with US and UK authorities over allegations that the Swiss bank tried to manipulate Libor rates.
UBS announced today (19 December) that it was settling with the US Department of Justice (DoJ) and the Commodity Futures Trading Commission (CFTC), the Financial Services Authority (FSA) in the UK, and the Swiss Financial Market Supervisory Authority (FINMA), over the regulators' investigations into manipulation of the Libor interbank lending rates.
The settlement states that UBS personnel manipulated submissions and colluded with employees at other banks and cash brokers to influence benchmark rates to their benefit.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3The 'Biden Effect' on Senior Attorneys: Should I Stay or Should I Go?
- 4BD Settles Thousands of Bard Hernia Mesh Lawsuits
- 5First Lawsuit Filed Alleging Contraceptive Depo-Provera Caused Brain Tumor
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250