US prosecutors have offered several former junior UBS employees protection from criminal charges in exchange for their cooperation with their expanding probe into alleged Libor manipulation, according to reports.
The inter-governmental rules were made in conjunction with France, Germany, Italy, Spain and the UK, which have all made reciprocal agreements with the US.
US regulators have dropped a four-year investigation into manipulation of the silver market, according to reports. The decision, if true, will take pressure off JP Morgan and HSBC who were the main focus of legal complaint that sparked the regulatory pro
The part-nationalised lender made the disclosure in its half year results on Friday, where it reported a loss of £1.5bn in the first six months of 2012 and set aside £125m to cover costs related to the recent IT problems.
Trevor Murray was employed by UBS Securities LLC from May 2007 until he was fired in September 2009, and then returned to the company in May 2011, he said in a lawsuit filed today in federal court in Manhattan.
The alleged offence involved six transactions totalling £146,000 over a three month period, the court heard.
Ministers are discussing a potential full nationalisation of RBS, which is already 82 percent owned by the government, to help boost business lending to companies.