A French court on Wednesday found Swiss bank UBS AG guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion, and ordered it to pay 4.5 billion euros ($5.10 billion) in penalties. Shares in UBS fell 2 percent. A lawyer for UBS said the bank would appeal the ruling. The penalties, […]

A former UBS Group AG compliance officer was charged by U.K. regulators with passing tips on five occasions to a London man who traded on the information, according to court records. Fabiana Abdel-Malek, 34, and Walid Choucair, 38, were each charged with five counts of insider dealing between June 2013 and June 2014, a court […]

It was reported that on June 23, 2016  that the UBS Group AG has ended a legal fight with the Internal Revenue Service, agreeing to hand over records on an American client’s account in Singapore as U.S. authorities seek to move beyond Switzerland in their fight against offshore tax evasion. The case involves information that […]

Six former managers at traders for UBS have been barred from the financial industry by the Swiss Financial Market Supervisory Authority as part of an investigation into manipulation of foreign currency markets. UBS was among a group of the world’s largest banks that paid a combined $4.25 billion in November 2014 to settle with British and Swiss […]

The FCA levied around £1.5bn in fines during 2014, nearly three times the amount raised the year before. Last year was one of bumper fines, with five banks told to pay a record £1.1bn for failing to control business practices in their G10 spot foreign exchange trading operations. Citibank NA was fined £225.5m, HSBC £216.3m, […]

From bundles of cash inside scraps of newspaper to setting up shell companies, the trial in Florida of a former UBS executive is a reminder of the extreme methods some Swiss bankers used to hide clients’ cash.  Raoul Weil, 54, is the highest ranking Swiss banker to be arrested in the United States and prosecutors […]

Since 2007, American prosecutors have charged more than four dozen American clients of Swiss banks, including UBS and Credit Suisse and nearly three dozen foreign bankers, lawyers and financial intermediaries involved with secret offshore accounts have been indicted. Since 2009 The IRS has sponsored offshore voluntary disclosure programs that HAS brought in at least $6.5 […]