UBS Rejects Data Handover Complaint As Without Merit
24.02.09, 14:01 Uhr |
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ZURICH -(Dow Jones)- UBS AG (UBS) Tuesday rejected a complaint seeking criminal charges against the bank's chairman connected to the handover of client data to the U.S. last week as "without merit."
Zurich-based law firm Rued Winkler filed complaints with Switzerland's federal prosecutor against Eugen Haltiner and Peter Kurer, chairmen of the Swiss financial regulator and UBS, respectively, for what it alleges was a violation of Swiss bank secrecy laws, Swiss daily Blick reported earlier Tuesday in its online edition.
In a statement, UBS said it acted on an order by the Swiss financial regulator Finma, which prescribed "protective measures." As a result, the bank transferred account details, which UBS said concern tax fraud, to Finma.
The banking regulator didn't immediately comment on the complaint.
The settlement reached last week between U.S. authorities and UBS to hand over account details of about 250 clients to settle a tax probe has caused anger in Switzerland, where the deal is expected to weaken strict bank secrecy laws.
In a statement, UBS said it acted on an order by the Swiss financial regulator Finma, which prescribed "protective measures." As a result, the bank transferred account details, which UBS said concern tax fraud, to Finma.
The banking regulator didn't immediately comment on the complaint.
The settlement reached last week between U.S. authorities and UBS to hand over account details of about 250 clients to settle a tax probe has caused anger in Switzerland, where the deal is expected to weaken strict bank secrecy laws.
Company Web site: http://www.ubs.com
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