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UBS Said Facing $1 Bln-plus Fines in Libor Probe

Fines from U.S. and U.K. regulators may be announced as soon as next week.

By Lindsay Fortado and Greg Farrell, Bloomberg | Updated on December 14, 2012

UBS AG, Switzerland’s biggest bank, may be fined more than $1 billion by U.S. and U.K. regulators for trying to rig global interest rates, more than double the amount levied against Barclays Plc, according to a person familiar with the probe.

The fines from the U.S. Commodity Futures Trading Commission, the U.K. Financial Services Authority and the U.S. Department of Justice may be announced as early as next week, said the person, who asked not to be identified because the information isn’t public. The final figures are still being negotiated and could change, three people familiar with the probes said.

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