Tag Archives: ubs

UBS given immunity in precious metals manipulation probe

UBS precious metals manipulation

UBS Group AG won immunity from criminal fraud charges in a Justice Department investigation into misconduct in the trading of precious metals. The Swiss bank’s main UBS AG unit won’t be charged by the department’s criminal division for information the firm disclosed to prosecutors about precious-metals transactions, according to the ...

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Six banks fined $5.8 billion for market rigging

Citi JPMorgan Barclays RBS UBS

Editor’s note: these banks made billions more from their crimes, let alone received billions of $ in bailouts which the tax payers funded. So will we receive this money? Will any of these bankers ever go to jail for their crimes? If you or I committed the crimes that these bankers are guilty of we would ...

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UBS fined for silver price manipulation

Precious metals silver

Switzerland’s regulator found “serious misconduct” by UBS employees in precious metals trading, particularly with silver, as part of its review of the bank’s foreign-exchange business. Electronic chats played a “key” role in the improper conduct in foreign exchange and precious metals trading, the Swiss Financial Market Supervisory Authority, or Finma, said in ...

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RBS and UBS traders to face arrests over Libor scandal within a month

RBS

RBS and UBS traders accused of manipulating the Libor face arrests within a month, Bloomberg’s Lindsay Fortado reports. In case you’ve forgotten, the Libor is the London Interbank Offering Rate, a benchmark rate for financial products worth $360 trillion world wide. This summer, traders were found allegedly colluding with Libor submitters to manipulate ...

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Reserve Bank of Australia is printing money for foreign banks

Australian money

Global banking giant UBS says the Reserve Bank may be printing money to keep the Australian dollar under control. UBS analysts Gareth Berry and Andrew Lilley say the evidence that the RBA may have been printing Australian dollars is compelling, but not yet conclusive. The main evidence the analysts cite ...

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