The Financial Post reports in its Thursday, Dec. 20, edition that the Libor scandal widened Wednesday as UBS AG admitted that dozens of its employees worked together to manipulate the global benchmark and agreed to pay a $1.5-billion fine. The Post's John Greenwood writes that is three times the Libor penalty paid by Barclays PLC earlier this year. Mr. Greenwood says the process has really just got going. Regulators in the United States, Canada and Europe are looking at more than a dozen banks involved in the setting of the London Interbank Offered Rate, or Libor, one of the most important benchmarks in global finance. Royal Bank of Scotland is next up for public flogging. Internal messages exchanged by senior RBS traders created the impression that the rate rigging was carried out with the approval of senior managers, with one former bank employee even boasting that the Libor submitters had formed a "cartel." The Competition Bureau in Ottawa recently waded in, launching an investigation into the activities of the Canadian subsidiaries of several foreign banks, including HSBC Holdings PLC, Royal Bank of Scotland, Deutsche Bank AG, JPMorgan Chase & Co. and Citigroup.