UBS escapes DoJ prosecution and fine

b-shares-escape

Swiss bank UBS has escaped criminal charges in the US for its foreign exchange conduct. It will not have to pay any fines to the US Department of Justice (DoJ) as it entered into a deal with the agency, the Federal Reserve and the Connecticut Department of Banking (CT DoB).

As part of the deal, the DoJ will not be filing any charges relating to its investigation into UBS's FX structured products and precious metals business, and it has granted the bank conditional immunity from prosecution by it

To continue reading...