Daily News: February 7, 2013

RBS Trader Colluded With UBS Counterpart to Pay Bribes


Bloomberg reported that regulators are saying a RBS trader colluded with a counterpart at UBS to pay over $300,000 in bribes to brokers willing to help them manipulate global interest rates.

Bloomberg said, according to transcripts released by regulators and confirmed by people with direct knowledge of the talks, Neil Danziger, a London-based derivatives specialist at RBS, helped Tom Hayes, the former UBS employee at the center of the global investigation into rate-rigging, to bribe at least two brokers into persuading other banks to submit rates in line with their own.

To read the Bloomberg story click here.

Previously on abfjournal.com:


RBS Fined $612 Million for LIBOR Misconduct, Wednesday, February 06, 2013