UBS AG, the largest Swiss bank by assets, is in talks with the U.S. government to settle a lawsuit seeking the names of 52,000 American account holders suspected of using Swiss secrecy laws to evade taxes. The bank agreed with the U.S. and Swiss governments to seek a settlement and postpone an evidentiary hearing [on…
Tag: Swiss banks
Bern to block UBS record transfer to US
The Swiss government on Wednesday waded into the legal battle between UBS and the US authorities by saying it would forbid the bank from handing over confidential client information, if a crucial court case next week required it. Bern warned it might go as far as confiscating the data, should a US court in Miami…