Swiss bank UBS admitted fraud and accepted a $1.5 billion fine today for its role in manipulating global benchmark interest rates. Dozens of UBS staff rigged the Libor rate, which is used to price trillions of dollars worth of loans, in collusion with brokers and traders at other banks, according to an investigation by authorities in multiple countries.
UBS faces $1.5 billion fine in Libor scandal
By Quartz Staff
