March 7, 2014
by Matthew Pomy
An Italian appeals court overturned the fraud oversight convictions of several banks on Friday. A lower court ruled that JPMorgan Chase & Co., Deutsche Bank AG, UBS AG and Depfa Bank Plc forced the city of Milan to enter into an interest-rate swap agreement that ended up costing the city ...[read more]
January 17, 2014
by Samuel Franklin
A judge for the US Bankruptcy Court for the Eastern District of Michigan on Thursday rejected a proposed $165 million settlement agreement for the now-bankrupt city of Detroit to pay off UBS and Bank of America. Referring to the agreement as financially imprudent, Judge Steven Rhodes put a halt ...[read more]
December 19, 2013
by Julie Deisher
A judge for the US Bankruptcy Court for the Eastern District of Michigan on Wednesday ordered Detroit to renegotiate its bankruptcy-related financing with UBS and Bank of America. Judge Steven Rhodes found that the deal, which required Detroit to pay the banks 75 percent of its debt to those ...[read more]
January 21, 2013
by Sarah Steers
On January 21, 2010, the Swiss Administrative court ruled that 25 American taxpayers, all clients of Swiss banking giant UBS, need not disclose their financial information to the US Internal Revenue Service (IRS). This decision reversed a ruling by the Swiss Federal Tax administration that would ...[read more]
December 19, 2012
by Max Slater
The US Department of Justice (DOJ) announced criminal charges Wednesday against two former UBS traders for allegedly helping UBS illegally manipulate foreign interest rates. The DOJ accused former traders Tom Hayes and Roger Darin of assisting in a conspiracy to manipulate the London Interbank ...[read more]
September 11, 2012
by Jerry Votava
An attorney for former UBS banker Bradley Birkenfeld announced on Tuesday that the US Internal Revenue Service (IRS) awarded Birkenfeld $104 million for information leading to an agreement between UBS and the IRS for $740 million in fines and penalties for its role in helping US clients shelter ...[read more]
August 21, 2012
by Garrett Eisenhour
On August 21, 2009, former UBS banker Bradley Birkenfeld was sentenced to 40 months in prison for helping a client avoid paying more than $7.2 million in taxes. The same week, a Swiss lawyer and Swiss banking executive were indicted in Florida for allegedly helping clients hide assets and defraud ...[read more]
August 19, 2011
by Dwyer Arce
On August 19, 2009, the US government reached an agreement with Switzerland that granted the US Internal Revenue Service (IRS) access to information on thousands of Swiss bank accounts. As part of the agreement, the Swiss government instructed banking giant UBS to turn over information regarding ...[read more]
July 15, 2011
by Jaclyn Belczyk
The Federal Supreme Court of Switzerland ruled Friday that the Swiss Financial Market Supervisory Authority (FINMA) was right to order UBS to disclose information to the US on more than 250 of the bank's clients. FINMA issued the order in February 2009 after the US Department of Justice (DOJ) ...[read more]
January 8, 2011
by Dwyer Arce
On January 8, 2010, the Federal Administrative Court of Switzerland ruled that the Swiss Financial Market Supervisory Authority (FINMA) violated the law in February 2009 when it ordered UBS to disclose information to the US on more than 250 of the bank's clients. FINMA issued the order after the ...[read more]

Support JURIST

We rely on our readers to keep JURIST running

 Donate now!

© Copyright JURIST Legal News and Research Services, Inc., 2013.