UBS Group AG said its main unit will plead guilty to fraud in the US for manipulating benchmark interest rates and pay $203 million in fresh fines after the Swiss bank violated an agreement that had allowed it to avoid prosecution, Bloomberg reported. UBS received conditional immunity in a related US antitrust probe into currency rigging, the bank said in statement Wednesday, avoiding more fines as a reward for cooperating with authorities. However it will pay $342 million to the Federal Reserve and undertake remedial measures in connection with foreign exchange misconduct.
