Huffpost Business

NYT: UBS Has Impressive Record Of Attracting Scandal, Avoiding Consequences

Posted: Updated:
UBS CEO Sergio Ermotti is shown speaking in Switzerland earlier this year.
UBS CEO Sergio Ermotti is shown speaking in Switzerland earlier this year.

As the Justice Department weighs the possibility of criminal charges in the unfolding Libor rate-setting scandal, it may want to consider the record of the Swiss banking giant UBS.

At UBS, a series of immunity, nonprosecution and deferred prosecution agreements in recent years — evidently the government’s preferred approach to corporate crime — seems to have had scant, if any, deterrent effect.

Read the whole story at The New York Times

Around the Web

For UBS, a Record of Averting Prosecution - The New York Times

London Self-Regulatory System Proves Illusory in Libor Scandal

UBS's Wolf, Key Obama Aide, to Leave