Financial Regulatory Forum

Swiss may need laws on banks’ structure-experts

April 22, 2010

    BERNE, April 22 (Reuters) – Switzerland may have to force its large banks UBS<UBSN.VX> and Credit Suisse<CSGN.VX> to change their structure in order to limit the risks for the economy should either collapse, a government commission said on Thursday. (more…)

Former UBS chairman willing to give evidence-report

March 9, 2010

   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

February 11, 2010

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.

Swiss minister sees economic risk in U.S. tax dispute over UBS, shares fall

February 1, 2010

By Lisa Jucca

ZURICH, Feb 1 (Reuters) – Shares in UBS AG fell to a 6-1/2 month low on Monday after the justice minister underscored the risk to the Swiss economy should the bank’s settlement of a U.S. tax dispute unravel.

ANALYSIS-Banks not out of woods after Swiss tax ruling

January 29, 2010

By Kim Dixon

WASHINGTON, Jan 29 (Reuters) – The Swiss court ruling in favor of a U.S. client who stashed funds in a UBS account sets a higher hurdle to aggressive efforts by the U.S. government to go after other banks helping wealthy tax cheats — but the banks are not out of the woods yet.

Switzerland, France settle dispute over tax records

January 27, 2010

DAVOS, Switzerland, Jan 27 (Reuters) – Switzerland and France settled a row over stolen bank records on Wednesday that was blocking a treaty aimed at helping Paris catch tax cheats.

Swiss government moves to save UBS tax deal

January 27, 2010

BERNE, Jan 27 (Reuters) – The Swiss government is to talk to the U.S. authorities in a bid to resolve a legal impasse that has threatened to derail a key tax deal over UBS client data, it said on Wednesday.

Obama plan could hurt U.S. banks-Swiss banker

January 25, 2010

   ZURICH, Jan 25 (Reuters) – U.S. President Barack Obama’s proposals to split traditional banking activities from riskier areas will harm U.S. banks without international co-ordination, a prominent Swiss banker said in Monday’s Financial Times. (more…)

UBS client wins Swiss appeal against data handover, tax deal in question

January 22, 2010

ZURICH, Jan 22 (Reuters) – A client of Swiss bank UBS won an appeal to prevent her account data being handed over to U.S. authorities as part of a deal to give details on 4,450 clients to the U.S. taxman, a court said.

Swiss regulator cuts UBS bonus pool – report

January 18, 2010

   GENEVA, Jan 17 (Reuters) – Swiss regulators have cut the proposed bonus pool at UBS <UBSN.VX>, which needed a state rescue in 2008, by about one quarter, Swiss weekly Sonntags-Zeitung said on Sunday. (more…)