Tag Archives | UBS

UBS Strike Deal With US To Hand Over Biggest Accounts

A preliminary agreement has been reached in the tax evasion dispute between Swiss Bank UBS and US authorities. UBS has agreed “in principle” to hand over records of 5’000 of the biggest accounts that allegedly conceal unreported wealth.The agreement diffuses a potentially embarrassing conflict between Swiss and US authorities. Although the US government originally sought […]

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Credit Suisse Gives US Offshore Banking Clients Ultimatum

Credit Suisse is taking further measures to protect itself, by ordering thousands of its American offshore banking clients to leave or face declaring their account details to the IRS. The Swiss newspaper Sonntadszeitung has reported that US customers have the option to move their funds to a Credit Suisse subsidiary, CS Private Advisers, which would […]

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Offshore Banking: Swiss Could Make Concessions

Switzerland’s finance minister has raised the possibility of bargaining in certain cases over Swiss bank secrecy. “Certain matters of fact must be up for debate,” said Hans-Rudolf Merz, who also holds the country’s presidency. “We will perhaps have to make concessions in some cases or others.’ Merz also suggested that Switzerland may have to make […]

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Is Media Furore Over Swiss Bank Secrecy Unfounded?

Swiss banking secrecy has come under fire recently because of the media focus on UBS, Credit Suisse and their US clients. With the volume of news dedicated to the subject you could be forgiven for thinking that bank secrecy in Switzerland is a thing of the past, that Switzerland has handed over the keys to […]

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