Former UBS and Citigroup trader Tom Hayes who is serving an 11-year jail sentence for conspiring to rig Libor global interest rates, was blocked from appealing to the UK's Supreme Court against his conviction on Tuesday.
UBS and four other bannks have agreed to pay more than $100 million over the plaintiffs allegation that they conspired to rig prices for municipalities. If their settlement would be approved, the defendants would end an almost eight years private class action lawsuit.
Ex-trader Tom Hayes was sentenced to 14 years in jail by a London court on Monday after being found guilty of conspiring to rig Libor benchmark interest rates following a seven-year global investigation.
UBS (UBSG.VX) will pay $545 million to U.S. authorities to end an investigation into alleged manipulation of currency rates, a settlement that will help the Swiss bank to move on after a series of trading scandals.
