Financial Regulatory Forum

Swiss minister says US insists on UBS tax deal – paper

By Reuters Staff
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.

ANALYSIS-Pressure mounts on Swiss private banks

By Reuters Staff
February 2, 2010

By Lisa Jucca and Rupert Pretterklieber

ZURICH, Feb 2 (Reuters) – Swiss private bankers say attacks on the country’s treasured bank secrecy law turned 2009 into an “annus horribilis.”

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

By Reuters Staff
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.

Swiss government moves to save UBS tax deal

By Reuters Staff
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.

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

By Reuters Staff
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 central banker backs universal bank model – paper

By Reuters Staff
January 18, 2010

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.

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…)

Swiss should tighten rules on UBS, CS further-OECD

January 15, 2010

Credit Suisse, UBS: Too big to fail?   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…)

Order for UBS to release client data ruled unlawful by Swiss court

By Reuters Staff
January 8, 2010

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.

U.S. judge rejects leniency for UBS whistleblower

By Reuters Staff
January 4, 2010

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.