May
12
U.S. Set to Rip Up UBS Libor Accord, Seek Conviction
By
Photographer: Gianluca Colla/Bloomberg
The U.S. Justice Department is set to rip up its agreement not to prosecute UBS Group AG for rigging benchmark interest rates, according to a person familiar with the matter, taking a new step to hold banks accountable for repeat offenses.
The move by the U.S. would be a first for the industry, making good on a March threat by a senior Justice Department official to revoke such agreements and putting banks on notice that these accords can be unwound if misconduct continues…
U.S. Set to Rip Up UBS Libor Accord, Seek Conviction
