Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly


A Swiss court ruled that the nation's top financial regulator acted in an "unlawful" manner when it forced UBS AG to release client data to U.S. authorities, reigniting a debate over bank-secrecy practices.

The decision, if upheld, could complicate efforts to extract client data by tax authorities in other countries. Private bankers have argued that whittling away Switzerland's banking-privacy laws has led to withdrawals by wealthy individuals.

Nearly one year ago, Finma, the Swiss financial-services regulator, ordered UBS to hand over details on nearly 300 accounts to U.S. authorities in order to settle a tax dispute. The regulator said it had to move quickly because, according to Swiss officials, U.S. authorities were threatening to indict the bank over the tax issue.

Finma argued that a potential indictment was a "clear and present" danger that UBS might not survive. Moreover, Finma added, UBS already had admitted to aiding tax fraud through hidden offshore accounts. The court disagreed, saying Finma had exceeded its authority and should have referred the matter to the government. The government backed Finma's move last February.


Legal News | Breaking News | Terms & Conditions | Privacy

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. Affordable law firm web design company
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
Family Law in East Greenwich, RI
Divorce Lawyer, Erica S. Janton
www.jantonfamilylaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
New York, New Jersey Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Chicago, Naperville IL Workers' Compensation Lawyers
Chicago Workplace Injury Attorneys
www.krol-law.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Employer Defense Attorney
Gardena Labor Law Defense Lawyers
www.aclawfirm.net
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Korean Web Agency
  Law Firm Directory