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Description:  UBS AG (UBSN)’s $1.5 billion fine for rigging global interest rates expands the scandal to include bribery and highlights the influence of a trader in Tokyo who colluded with other banks to align their submissions.

Source:  Bloomberg.com

Date: Dec 19, 2012

Link:  http://www.bloomberg.com/news/2012-12-19/ubs-libor-fine-soars-as-traders-bribed-brokers-to-fix-libor-rate.html

Questions for Discussions:

  • What does this report say about the manner in which the manipulation of rates was conducted and the people involved?
  • What should regulatory officials do?
  • How will investors be affected by these revelations?

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