Statement of Support by Commissioner Scott D. O’Malia for Bringing and Settling Charges against UBS AG and UBS Securities Japan, Co., Ltd.
December 19, 2012
I fully support an internationally coordinated enforcement effort to bring charges against UBS AG and UBS Securities Japan Co., Ltd for manipulation and false reporting of certain global benchmark interest rates. In the wake of a series of scandals involving these benchmarks, I urge U.S and international regulators to implement a comprehensive transaction-based solution to assessing the accuracy of such rates to ensure integrity of global financial markets.
Last Updated: December 19, 2012