United Kingdom

On 27 July 2020, the High Court dismissed an application by UBS AG to strike out or obtain summary judgment in relation to the Federal Deposit Insurance Corporation’s (FDIC-R) claims alleging that UBS AG and other banks had colluded to manipulate the United States Dollar London Interbank Offered Rate (USD LIBOR) benchmark in breach of the Chapter 1 Prohibition and Article 101 TFEU. FDIC-R brought an action on 10 March 2017, more than six years after the conduct at issue.