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UBS in $1.5bn fine

UBS in $1.5bn fine
UBS is to pay a $1.5bn fine for rate rigging, the Swiss bank has announced.

Authorities said the high fines reflected the extent of the bank's problems. The fine is one of the highest ever seen in the US and Britain, and is three times as high as the penalty imposed on Barclays.

The fine was blasted as "peanuts" by former City Minister Lord Myners.

Green Box: UBS in $1.5bn fineClick to open

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Lord Myners: UBS fine is peanuts

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