UBS paid 15,000 pounds a quarter in "corrupt" Libor payments

Published December 19, 2012

| Reuters

Britain's financial regulator said UBS made "corrupt payments" of 15,000 pounds per quarter to brokers for at least 18 months to reward them for helping the Swiss bank manipulate global interest rates.

The Financial Services Authority fined UBS 160 million pounds ($260 million) for the misconduct, part of a $1.5 billion penalty imposed on the bank by global authorities on Wednesday.

(Reporting by Steve Slater; Editing by Sarah White)

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