By Jason Rhodes
BERNE, Aug 19 (Reuters) – Details of a deal to settle a U.S. tax case against Swiss bank UBS AG could come as soon as Wednesday and could have far-reaching implications for other wealth managers.
Financial Regulatory Forum
By Tom Freke and Clara Ferreira-Marques
LONDON, Aug 18 (Reuters) – State-owned British bank Northern Rock said on Tuesday it would defer paying interest on a range of subordinated bonds, propping up its capital position and preempting an anticipated European Commission requirement.
By Tom Brown
MIAMI, Aug 18 (Reuters) – The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information. (more…)
By Jason Rhodes
ZURICH, Aug 18 (Reuters) – Details of a landmark settlement of the U.S. tax case against Swiss bank UBS are expected this week, which should help the bank restore its image and open the way for the Swiss state to sell its UBS stake. (more…)
By Steve Eder
MARTHA’S VINEYARD, MASSACHUSETTS (Reuters) – Kenneth Feinberg, the Obama administration’s pay czar, said on Sunday he has broad and “binding” authority over executive compensation, including the ability to “claw back” money already paid, and he is weighing how and whether to use that power. (more…)
Aug 14 (Reuters) – 150 American clients of UBS are likely to face criminal charges related to tax evasion in the United States, the New York Times reported, citing a person briefed on the matter.
By Pascal Fletcher and Lisa Jucca
MIAMI/ZURICH Aug 12 (Reuters) – The days of secret bank accounts are numbered for Americans after UBS <UBSN.VX> <UBS.N> and the U.S. and Swiss governments agreed to settle a dispute over whether the Swiss bank should be forced to disclose the names of 52,000 rich U.S. clients suspected of tax evasion.
MIAMI, Aug 12 (Reuters) – The U.S. government and Swiss bank UBS AG <UBSN.VX><UBS.N> have initialled agreements to settle their tax evasion dispute, a U.S. government attorney said on Wednesday, ending weeks of tough negotiations between the two sides.
Swiss in fresh push for UBS tax settlement
By Lisa Jucca
ZURICH, Aug 11 (Reuters) – Switzerland is striving to settle a long-running tax evasion dispute between UBS and the U.S. government that challenges Swiss banking secrecy before a key pre-trial conference on Wednesday.
MIAMI, Aug 7 (Reuters) – The U.S. government, citing difficulties in talks to hammer out a final settlement of its tax-evasion dispute Swiss bank UBS AG, asked a U.S. judge on Friday to delay a trial in the case set to begin on Monday. (more…)