French finance prosecutors have asked for Swiss bank UBS to face trial for allegedly orchestrating a vast system of tax fraud in France, a legal source said on Monday.
Swiss banking giant UBS on Tuesday saw its share price plummet after jittery investors helped push its first quarter net profit down by nearly two thirds.
The CEO of Credit Suisse said on Tuesday the bank does not endorse offshore accounts for tax avoidance or shady dealings, the latest bank to defend itself against accusations made in the Panama Papers leak.
Swiss bank UBS, banned Uefa boss Michel Platini and the former secretary general of Fifa are among those named in leaked documents as being connected to secret offshore companies.
Offshore schemes operated by Swiss bank UBS and Germany's Deutsche Bank in a bid to avoid paying income tax on bankers' bonuses are not exempt from tax, the Supreme Court in London ruled Wednesday.
France on Wednesday launched an official investigation into the French subsidiary of Swiss banking giant UBS for alleged witness intimidation, a source close to the case told AFP.
Belgium on Friday charged Swiss banking giant UBS with "serious and organised" fiscal fraud for encouraging clients to
cheat on their taxes, as well as being involved in money laundering.
Swiss banking giant UBS on Tuesday posted a 79-percent higher net profit for 2015, beating analyst expectations, with tax
benefits offsetting a difficult fourth quarter hit by market turmoil.
Europe's human rights court dismissed a complaint Tuesday by an American client of Swiss banking giant UBS who had contested the legality of giving his bank account details to US authorities probing possible tax evasion.
Swiss financial authorities have banned six former UBS traders and managers from working in Switzerland’s financial industry for periods ranging from one to five years.
Greek prosecutors are investigating around 200
cases of alleged tax fraud and money laundering after raiding an Athens office of Swiss bank UBS, a judicial source said on Tuesday.
Swiss banking giant UBS said on Tuesday that its third quarter net profit nearly tripled, beating analyst expectations, even as it acknowledged it too had been questioned over a Fifa corruption scandal.
Swiss banking giant UBS said Tuesday that it
too had been questioned over links with Fifa, after Credit Suisse acknowledged last week it was being probed in the massive corruption scandal rocking football's Zurich-based governing body.
French judges have charged a former top-level banker at UBS with tax evasion as part of a probe into the Swiss banking
giant, judicial sources said on Thursday.
UBS, Switzerland's largest bank, has agreed to pay American authorities $1.7 million to settle "apparent" violations of rules banning transactions benefiting officially designated terrorists, the US Treasury Department said on Thursday.
UBS, Switzerland's largest bank, on Monday posted second quarter profits of 1.2 billion Swiss francs ($1.25 billion, 1.1
billion euros), a 53 percent rise over the same period last year, which beat expectations.
Former UBS trader Kweku Adoboli, jailed for seven years for gambling away $2.3 billion in Britain's biggest ever fraud, has been released from prison, a source said on Wednesday.
UBS, Switzerland's largest bank, says that it will plead guilty to fraud in the US for manipulating benchmark interest rates and pay $545 million in fines and penalties.
UBS, Switzerland’s largest bank, on Tuesday reported higher than expected profits for the first quarter of 2015 of almost two billion francs, virtually twice as high as the same period a year earlier.
French judges on Tuesday issued arrest warrants for three former managers at Swiss bank UBS over allegations it helped
customers hide money from the taxman in Switzerland.
Switzerland’s largest bank UBS on Tuesday reported a profit of 3.57 billion francs ($3.9 billion) for 2014, a 13 percent increase from the previous year.
Swiss bank UBS is facing a new investigation by US authorities over whether it helped Americans avoid taxes by investing in bearer bonds, The Wall Street Journal said on Wednesday.
Financial authorities in Switzerland, the US and the UK on Wednesday announced they had slapped Swiss banking giant UBS with penalties totalling 774 million francs ($802 million) to settle allegations of foreign exchange rigging.
The Financial Stability Board, a global banking watchdog, presented on Monday new rules that would push mega-banks to nearly double their financial buffers in order to shield economies and taxpayers if they collapse.
