UK lawmakers question UBS execs about Libor

Members of the UK Parliament questioned UBS senior executives for nearly three hours Wednesday about issues related to the London Interbank Offered Rate. UBS paid $1.5 billion, the largest fine in the investigation, to authorities worldwide for its involvement. "We all got probably too arrogant, too self-convinced that things were correct the way they were," said Andrea Orcel, head of investment banking at UBS. "I think the industry needs to change."

View Full Article in:

New York Times (tiered subscription model), The · Financial Times (tiered subscription model) · Reuters · Wall Street Journal, The

Published in Brief: