UBS France Hit With $13M Fine For Lax Tax Evasion Controls

By Erica Teichert (June 26, 2013, 2:24 PM EDT) -- UBS AG's French subsidiary on Wednesday was fined a record €10 million ($13 million) by a French regulator that said the bank was slow to correct lax oversight procedures that allowed its employees to allegedly help wealthy clients dodge French taxes by opening undeclared bank accounts in Switzerland....

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