UBS Subpoenaed Over Interbank Rate Manipulation

Swiss bank UBS (UBS) has received subpoenas from the U.S. SEC, Commodity Futures Trading Commission and Department of Justice, which are investigating whether the bank has manipulated Libor rates. “UBS understands that the investigations focus on whether there were improper attempts by UBS, either acting on its own or together with others, to manipulate LIBOR rates at certain times,” the bank said in its annual report on Tuesday.

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