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UBS says to settle FX probe, pay $545 million, plead guilty over Libor


    ZURICH (Reuters) - UBS said on Wednesday it has settled a probe by U.S. authorities over alleged rigging of currency markets by agreeing to pay $545 million in combined fines and pleading guilty to one count of wire fraud in a separate matter.

    The Swiss bank's disclosure comes as part of what is expected to be a combined bill of more than $5 billion and criminal charges for five of the world's biggest banks in a settlement with U.S. and British authorities over the foreign exchange probe.

    UBS (UBSN.CH)said its settlement includes pleading guilty to allegations it rigged Libor benchmark interest rates.

    "The conduct of a small number of employees was unacceptable and we have taken appropriate disciplinary actions," Zurich-based UBS' Chairman Axel Weber and Chief Executive Sergio Ermotti said in a statement on Wednesday.

    (Reporting by Katharina Bart; Editing by Kenneth Maxwell)