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UBS faces Hong Kong investigation

Hong Kong launched a "possible misconduct investigation" by the Swiss bank (UBS) of the Hong Kong interbank lending rates to submit.
It's the day before, ubs agreed to pay $1.5 billion (?940 m) the United States, Britain and Switzerland's regulators trying to manipulate the London interbank Banks.
London interbank interbank tracking average speed, headquartered in London Banks lend money to each other.
Global regulatory survey some Banks trying to manipulate the London interbank Banks.
Hong Kong monetary authority (hkma) said it has received "overseas regulatory authorities possible misconduct, UBS Hong Kong interbank Banks (HIBOR) and in the area of other reference rate" information submitted.
The regulator said it had launched an investigation, look at UBS any action "major impact" Banks in Hong Kong interbank fixed.
Ubs has admitted to manipulate the European Banks and Tibor interbank interest rates - equivalent to the lender, the euro area and Tokyo.
More probe?
Ubs is the second Banks will be fined, barclays bank was ordered to pay $450 million, Britain and the United States authorities earlier this year more than London interbank Banks.
The Swiss bank has admitted that, in their attempt to control London interbank Banks in other bank traders collusion.
Britain's financial services authority (FSA), said the bank's Tokyo office as far as possible bribery brokers.
FSA says, the Swiss bank (UBS) is a common practice, control London interbank Banks submit and participate in at least 45 people.
Other bank is also under investigation now.
At the same time, ubs said it is working with the regulatory departments closely to solve the problem about setting a global benchmark interest rate ".
"At the moment we are with these organizations active discussion, we can't further comment," hong kong-based bank spokesman said in a statement.




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