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UBS tightens controls after Libor scandal: chairman
Dec 23, 2012 10:28 EST
Swiss banking giant UBS, hit with massive fines for manipulating global interest rates, has learned its lesson and is improving its control mechanisms, its chairman Axel Weber insisted in an interview published Sunday.
UBS hit with Libor scandal fines worth $1.5 bn
Dec 19, 2012 15:55 EST
Three national regulators slapped the equivalent of $1.5 billion in fines on Swiss banking giant UBS on Wednesday, the second-largest banking fine ever, for manipulating interest rates in a deepening scandal that threatens more than a dozen other banks.
UBS hit with $1.5 bn fines for manipulating Libor
Dec 19, 2012 05:00 EST
British, US and Swiss regulators hit Swiss banking giant UBS with fines of $1.5 billion on Wednesday -- one of the biggest-ever such sanctions -- in a deepening scandal over rigging of the Libor interest rate at the heart of global financial markets.
UBS agrees to pay $1.5 bn for manipulating Libor
Dec 19, 2012 03:10 EST
Swiss banking giant UBS said on Wednesday it had agreed to pay about $1.5 billion to British, US and Swiss regulators to settle allegations it manipulated Libor interest rates.
UBS agrees to pay $1.5bn for manipulating Libor
Dec 19, 2012 02:00 EST
Swiss banking giant UBS has agreed to pay around $1.5 billion to British, US and Swiss regulators to settle allegations it manipulated Libor interest rates, it said in a statement Wednesday.
UBS punished with double whammy over rogue trader
Nov 26, 2012 15:21 EST
Swiss banking giant UBS was hit twice over on Monday for allowing a rogue trader to commit massive fraud, with British regulators imposing a nearly $50-million fine and Switzerland banning its investment bank from staging takeovers.
UBS fined £29.7 mn over Adoboli scandal
Nov 26, 2012 04:51 EST
Britain's financial regulator said Monday it had fined Swiss bank UBS £29.7 million for failings that allowed Kweku Adoboli to commit the country's biggest fraud.
UBS plans to issue more loss-absorbing capital
Feb 22, 2012 08:17 EST
ZURICH (Reuters) - UBS <UBSN.VX> plans to sell more loss-absorbing bonds to meet tougher bank capital rules after the Swiss bank tested investor appetite for these new instruments with an initial $2 billion deal last week.
UBS to issue more loss-absorbing capital
Feb 22, 2012 08:17 EST
ZURICH/LONDON (Reuters) - UBS might struggle to attract big institutional investors for more loss-absorbing bonds it wants to sell, after investors voiced distaste for the structure and price of an initial $2 billion deal announced on Wednesday.
UBS denies helping U.S. in tax probes of other banks
Feb 09, 2012 11:12 EST
ZURICH (Reuters) - Swiss bank UBS <UBSN.VX> <UBS.N> sought to distance itself from a U.S. investigation of rival Swiss private banks on Thursday, saying that it did not hand over data on rival banks directly to U.S. officials when it settled a U.S. crackdown on taxpayers holding secret offshore accounts two years ago.
Regulators weigh action on UBS $2 billion trading loss: report
Jan 29, 2012 17:54 EST
ZURICH (Reuters) - Regulators in Britain and Switzerland may take steps against bank UBS <UBSN.VX> for shortfalls in oversight that allowed an alleged rogue trader to run up a huge loss, the Wall Street Journal reported on Sunday, citing sources familiar with the matter.
UBS names Ermotti CEO to reassure investors
Nov 15, 2011 05:06 EST
ZURICH (Reuters) - UBS AG <UBSN.VX> made stand-in Sergio Ermotti permanent chief executive on Tuesday and brought forward the start date of chairman designate Axel Weber, in a move to reassure investors following the Swiss bank's $2 billion trading scandal.
UBS names Ermotti CEO; Weber as chairman
Nov 15, 2011 03:32 EST
ZURICH (Reuters) - UBS AG <UBSN.VX> sealed the permanent appointment of Sergio Ermotti as chief executive on Tuesday and named former Bundesbank president Axel Weber as chairman from next May as it fills a leadership vacuum following its $2 billion trading scandal.
Special Report: How a rogue trader crashed UBS
Sep 26, 2011 13:55 EDT
ZURICH/SINGAPORE (Reuters) - Late last Friday afternoon, as Formula One teams readied their cars for a practice session ahead of the Singapore Grand Prix, the entrance hall of the nearby Ritz-Carlton buzzed with activity.
Swiss committed to solving U.S. tax spat: report
Sep 11, 2011 11:30 EDT
ZURICH (Reuters) - Switzerland does not need an emergency law or a separate treaty as it works toward a solution in its latest tax spat with the United States, finance minister Eveline Widmer-Schlumpf was quoted as saying in a Swiss newspaper interview on Sunday.
Switzerland says no bank client names given to US
Sep 07, 2011 08:56 EDT
Switzerland has not handed the names of any the clients of Swiss banks to US tax authorities, Swiss President Micheline Calmy-Rey said on Wednesday.
Swiss to deliver some bank data over tax row: report
Sep 06, 2011 02:29 EDT
ZURICH (Reuters) - Switzerland is set to partially meet a U.S. ultimatum and deliver an estimate of the amount of assets held by U.S. residents in secret accounts at Swiss banks, possibly up to $30 billion, a newspaper reported on Tuesday.
UBS may relocate investment bank outside Switzerland
May 26, 2011 11:43 EDT
ZURICH (Reuters) - UBS <UBSN.VX> is planning to relocate its investment bank outside Switzerland, the Wall Street Journal said, to side-step tough new local bank regulations and better deploy its capital.
U.S. seeks to dismiss UBS criminal tax evasion case
Oct 22, 2010 13:08 EDT
NEW YORK (Reuters) - The U.S. Department of Justice is seeking to dismiss a criminal prosecution against UBS AG that led to the Swiss bank paying a $780 million penalty and admitting it helped wealthy U.S. clients evade taxes.
Big Swiss banks face tougher capital rules
Oct 04, 2010 12:37 EDT
Swiss government-appointed experts on Monday sought tougher capital standards for Switzerland's biggest banks, UBS and Credit Suisse, that far exceed new international "Basel III" regulations.
