Bank Sanctions Feel Like 'Slap on the Wrists': Wheeler

UBS Group AG said its main unit will plead guilty to fraud in the U.S. for manipulating benchmark interest rates and pay $203 million in fresh fines after the Swiss bank violated an agreement that had allowed it to avoid prosecution. Christopher Wheeler, Atlantic Equities LLP bank analyst, said sanctions imposed on banks feel like a "slap on the wrists" and discussed the outlook for financial regulation in an interview with Mark Barton and Manus Cranny on Bloomberg Television's "Countdown." (Source: Bloomberg)

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