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.
Financial Regulatory Forum
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.
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.
Jan 16 (Reuters) – Switzerland’s two big banks — UBS and Credit Suisse — should not be forced to split their wealth management and commercial banking operations into separate entities, the new head of the country’s central bank said on Saturday.
By Sven Egenter
BERNE, Jan 15 (Reuters) – Switzerland should tighten the reins on UBS and Credit Suisse further as a failure of the banks may push the economy over the edge, the OCED said on Friday, backing Swiss regulators in their push for tougher regulation. (more…)
By Jason Rhodes
ZURICH, Jan 8 (Reuters) – The Swiss financial regulator broke bank secrecy law last year when it ordered UBS to hand over the files of nearly 300 clients to U.S. authorities, a Swiss court said on Friday.
By Tom Brown
MIAMI, Jan 4 (Reuters) – A U.S. judge on Monday upheld the prison sentence of a key informant in the tax fraud case against Swiss bank UBS AG and ordered him to start serving his 40-month term as scheduled this Friday.