UBS In Forex-Rigging Settlement Talks, Warns Of Fines

Law360, Los Angeles (September 29, 2014, 10:29 PM ET) — UBS AG told investors Monday it could face a “material” fine by regulators over its alleged role in a scheme to manipulate the $5.3 trillion global foreign exchange market, saying that it was in settlement talks with at least one agency.

The Swiss bank said some investigating authorities “have initiated discussions of possible terms of a resolution” of their probe into whether UBS and others rigged the forex market, though it didn’t specify which regulators it was in talks with, according to a prospectus Monday….

Source: Law360

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