Multiple reports indicate UBS will join previously expected Barclays, JP Morgan, RBS, and Citigroup in settling up on their forex manipulation behavior next week.
A guilty plea to a felony criminal count is expected for all 5 TBTFs.
Biggest rumor is that DoJ may tear up the deferred prosecution agreement with UBS.
My wild guess of the dollar amount of the settlement? Four and a quarter billion. Reports i have seen over the past few weeks leave me wondering if that is just the DoJ settlements and doesn’t include NYDFS. If not, add another billion or three.
A few articles for more details:
http://fraudinfoblog.squarespace.com//fraud-info/2015/5/14/scarlet-letters-and-large-fines?hootPostID=6cd1af78b96858067766436572dd639b
http://mobile.nytimes.com/2015/05/14/business/dealbook/5-big-banks-expected-to-plead-guilty-to-felony-charges-but-punishments-may-be-tempered.html?_r=1&referrer
http://www.wsj.com/articles/justice-department-to-tear-up-past-ubs-settlement-1431645723