Search Results for: Swiss bank
UBS signs whistleblower deal with Brazil to avoid punishments in Forex rigging case
July 7th, 2015
Swiss bank UBS has signed a leniency agreement with Brazilian authorities to avoid punishment in the alleged rigging of the country’s currency market. Local newspaper Valor Econômico reported that UBS signed an agreement with Brazil’s antitrust watchdog, the Council ...
Switzerland Postpones Withholding Tax Reforms
June 26th, 2015
The Swiss Federal Council is to postpone a planned overhaul of the withholding tax (WHT) system and re-examine the appropriateness of the reforms at a later date. In Switzerland, WHT is levied on interest, participation income, lottery winnings, and ...
UBS Gave Out ‘Instruction Manual on Fixing Libor,’ Hayes Said
June 19th, 2015
Thomas Hayes, a former trader on trial over charges he manipulated benchmark rates, told prosecutors in 2013 that UBS Group AG distributed “an instruction manual on fixing Libor” to suit their trading positions. The Swiss bank’s e-mailed “Guide to ...
Chinese investors protest over missing US$1.2b
June 17th, 2015
Chinese investors who sank about $1.2 billion into companies in Switzerland that did not have trading licenses have staged protests in Geneva to demand their money back. The Swiss financial watchdog and legal experts say they face tremendous difficulties ...
Top news of the day, May 20
May 20th, 2015
1. As Greek government officials expressed their confidence that a deal with the country’s creditors is close, top European officials indicated Tuesday that although there has been progress in negotiations, an agreement is unlikely before the end of the ...
UBS to Plead Guilty on Libor, Fined by Fed in Currency Probe
May 20th, 2015
UBS Group AG said its main unit will plead guilty to fraud in the U.S. for manipulating benchmark interest rates and pay $203 million in fresh fines after the Swiss bank violated an agreement that had allowed it to ...
Top news of the day
May 12th, 2015
1. Greece made a repayment of 750 million euro to IMF. Progress is made but work needs to be done. The move came after a what seemed a rare good news day in terms of talks between Greece and its lenders ...
Switzerland, France Discuss Tax
April 24th, 2015
French President François Hollande has met with the head of Switzerland’s Federal Department of Finance, Eveline Widmer-Schlumpf, to talk tax. The meeting was held during Hollande’s state visit to Switzerland, the first by a French President since 1998. The ...
Switzerland, EU to tackle tax evasion
March 20th, 2015
Bern and Brussels have clinched a deal to exchange bank account data in an effort to tackle tax fraud. The agreement comes after a recent report exposed the global economic damage caused by offshore accounts. Switzerland and the European ...
HSBC accused of incompetence by MPs in tax scandal
March 10th, 2015
HSBC executives have been accused by MPs of incompetence for saying they were unaware of tax evasion activities in their Swiss private bank. Chris Meares, the ex-head of HSBC’s private banking division: “I absolutely take responsibility for the control failings ...
