On 19 December 2012, UBS was fined $1.5 billion for its role in the Libor scandal[174] over accusations that it tried to rig benchmark interest rates.[175] In November 2014, regulators including the FCA and CFTC hit UBS with fines, along with other banks, for currency manipulation.[176] On 6 January 2014, it was reported that UBS had become the largest private banker in the world, with $1.7 trillion in assets.[177] In May 2015, media reports revealed UBS is planning to sell its Australian private banking division to some of its management after a review of underperforming businesses was conducted at the company.[178]