Switzerland announces Fatca tax deal with US (update 2)
GenevaLunch News President Widmer-Schlumpf: deal initialed Monday BERN, SWITZERLAND – The US and Switzerland have initialed an agreement covering Fatca, the US foreign account tax compliance act that...
View ArticleAsset management the new mantra of post-wealth Swiss banks
GenevaLunch News Banking secrecy issues could be eclipsed by new focus BASEL, SWITZERLAND – The Swiss banking industry is not taking changes to its world lying down, with its traditional specialty of...
View ArticleBern says no more untaxed assets in Swiss banks
GenevaLunch News Self-declarations may be required but won’t be obligatory BERN, SWITZERLAND – The Swiss Federal Council signalled Friday afternoon that it wants clear rules that will end acceptance by...
View ArticleUBS fine over rate setting sheds light on growing market fraud (update)
GenevaLunch News Update 22:00 ZURICH, SWITZERLAND – UBS, Switzerland’s largest bank, will have yet another large loss on its books, $1.5 billion in fines announced late 18 December, payable to US, UK...
View ArticleMagnitski affair re-surfaces in Switzerland
GenevaLunch News Funds reportedly blocked at Credit Suisse on order of public prosecutor ZURICH, SWITZERLAND – The case that has come to be known as the Magnitski affair has re-surfaced in Switzerland,...
View ArticleWegelin pleads guilty to charges of aiding US tax evaders
GenevaLunch News Switzerland’s oldest bank to pay $58 million fine and close ZURICH, SWITZERLAND – Wegelin & Co. pleaded guilty Thursday 3 January to criminal conspiracy charges in the US, the...
View ArticleUBS targeted by US justice officials in Wegelin bank affair (correction)
GenevaLunch News NY tribunal opens procedure against Switzerland’s largest bank for correspondent role Parliament: both houses’ oversight committees want to hear bank surveillance body on Libor scandal...
View ArticleUBS posts 2012 loss of CHF2.51 billion
GenevaLunch News ZURICH, SWITZERLAND – Switzerland’s largest bank, UBS, finished 2012 with a loss of CHF2.51b, the company’s financial results, published Tuesdy 5 February, show. The bulk of it,...
View ArticleFalciani says he took no money for HSBC names
GenevaLunch News Spanish court debates Swiss extradition demand for ex-Geneva computer man GENEVA, SWITZERLAND – Hervé Falciani, who famously handed over to the French government client data that he...
View ArticleZurich mayor sheds US passport
GenevaLunch News ZURICH, SWITZERLAND – Zurich’s mayor has become the latest celebrity in Switzerland to have the US Embassy in Bern punch holes in her passport as she gives up her US citizenship....
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