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the classified findings of their harshly critical report.
• An unclassified version released late Tuesday said serious bureaucratic mismanagement was responsible for the inadequate security at the mission in Benghazi where the U.S. ambassador and three other Americans were killed.

• "Systematic failures and leadership and management deficiencies at senior levels within two bureaus of the State Department resulted in a Special Mission security posture that was inadequate for Benghazi and grossly inadequate to deal with the attack that took place," the panel said.
• Despite those deficiencies, the board determined that no individual officials ignored or violated their duties and recommended no disciplinary action. But it also said poor performance by senior managers should be grounds for disciplinary recommendations in the future.
• ___

GENEVA (AP) -- Switzerland's UBS AG agreed Wednesday to pay some $1.5 billion in fines to international regulators following a probe into the rigging of a key global interest rate.
• In admitting to fraud, Switzerland's largest bank became the second bank, after Britain's Barclays PLC, to settle over the rate-rigging scandal. The fine, which will be paid to authorities in the U.S., Britain and Switzerland, also comes just over a week after HSBC PLC agreed to pay nearly $2 billion for alleged money laundering.
• The settlement caps a tough year for UBS and the reputation of the global banking industry. As well as being ensnared in the industry-wide investigation into alleged manipulations of the benchmark LIBOR interest rate, short for London interbank offered rate, UBS has seen its reputation suffer in a London trial into a multibillion dollar trading scandal and ongoing tax evasion probes.
• As a result of the fines, litigation, unwinding of real estate investments, restructuring and other costs, UBS said it expects to make a fourth quarter net loss of between 2 billion to 2.5 billion Swiss francs ($2.2-2.7 billion). Nevertheless, the Zurich-based bank maintained that it "remains one of the best capitalized banks in the world."
• Other banks are expected to be fined for their involvement in the LIBOR scandal. LIBOR, which is a self-policing system and relies on information that global banks

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