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Silver Lining Seen in UBS Fine
It's a monster fine, but they should be OK. UBS has agreed to pay $1.5 billion to regulators in the U.S., UK and Switzerland. The Swiss bank has admitted its staff helped manipulate benchmark interest rates across three continents. It's the second largest fine ever levied on a bank. But It might not be a bad thing. The bank is trying to shift away from some of its investment banking activities. Simon Maughan is from One Tree Securities.
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