Financial Regulatory Forum

Former UBS chairman willing to give evidence-report

   ZURICH, March 9 (Reuters) – Former UBS <UBS.N><UBSN.VX> chairman Marcel Ospel is willing to give evidence to a parliamentary committee into the Swiss government’s bailout of the bank during the financial crisis, daily Blick reported on Tuesday. (more…)

Swiss minister says US insists on UBS tax deal – paper

ZURICH, Feb 11 (Reuters) – The Swiss government will probably have to turn to parliament to resolve a legal impasse threatening a deal struck with the United States to hand over data from UBS AG clients, a minister was quoted as saying.

The Swiss government had raised the option of parliament retroactively approving the deal, involving UBS clients suspected of dodging taxes, after a Swiss court ruled in favour of a UBS client seeking to prevent her account data from being given to the U.S. tax agency.

But the government’s preferred solution has so far been to negotiate a way out, hoping the United States would drop the issue if more than 10,000 UBS clients had turned themselves in voluntarily.

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