UBS Unit Is Said To Be Close To Guilty Plea In Rate-Rigging Scandal

UBS Unit Reportedly Close To Guilty Plea In Libor Scandal
FILE - In this March 12, 2008 file photo dark clouds hang above the logo of the UBS in Zurich, Switzerland. Swiss banking giant UBS AG announced massive layoffs Tuesday, Oct. 30, 2012, along with huge losses in its third-quarter results, saying it aims to trim as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank. (AP Photo/Keystone, Alessandro Della Bella, File)
FILE - In this March 12, 2008 file photo dark clouds hang above the logo of the UBS in Zurich, Switzerland. Swiss banking giant UBS AG announced massive layoffs Tuesday, Oct. 30, 2012, along with huge losses in its third-quarter results, saying it aims to trim as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank. (AP Photo/Keystone, Alessandro Della Bella, File)

Federal prosecutors are close to securing a guilty plea from a UBS subsidiary at the center of a global investigation into interest rate manipulation, the first big bank to agree to criminal charges in more than a decade.

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