UBS Close to Settlement on Libor Rigging

Bank said to pay more than $465 mln to settle allegations.

UBS AG, Switzerland’s biggest lender, is close to agreements with regulators to pay more than 290 million pounds ($465 million) to settle allegations traders tried to rig global interest rates, a person with knowledge of the talks said.

An announcement may come as soon as next week, said the person, who declined to be identified because the talks are private. More than 25 people have already left UBS after the lender’s own internal probe, another person said last month.

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