Legal
HSBC, UBS settle U.S. rate-rigging litigation; 10 banks' total payout tops $408 million
HSBC Holdings Plc and UBS Group AG have each agreed to pay $14 million (11 million pounds) to settle private U.S. litigation accusing them of rigging an interest rate benchmark used in the $483 trillion derivatives market. The preliminary settlements were disclosed in filings on Tuesday in the U.S. District…
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Click here to read the full story: Reuters