3 Swiss Banks Join Tax Evasion Disclosure Program

Law360, New York (December 10, 2013, 5:48 PM EST) -- Swiss banks Valiant Holding AG, Berner Kantonalbank AG and Vontobel Holding AG agreed Monday to participate in a voluntary disclosure program with Swiss officials and the U.S. Department of Justice that targets lenders suspected of sheltering American tax evaders.

The three Swiss banks issued statements confirming their participation in the program, meeting Monday’s deadline set by the Swiss Federal Department of Finance. Swiss officials are collaborating with the DOJ on the newly launched program that aims to have banks identify any undeclared U.S. assets on their...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.