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Yesterday, in response to "too big to fail" concerns, a Swiss government committee announced that it unanimously agreed to increase the capital requirements for Credit Suisse and UBS, two systemically important banks whose combined balance sheets are five times the size of the Swiss economy
Today, the Swiss Financial Market Supervisory Authority (FINMA) published a Circular that defines minimum standards for the design, implementation and disclosure of remuneration schemes in financial institutions
On August 19, 2009, the Internal Revenue Service (IRS) and the Justice Department announced that they had reached an agreement with UBS AG (UBS) regarding the IRS John Doe summons to obtain approximately 4,450 names of U.S. taxpayers with accounts in UBS
The U.S. Justice Department and the U.S. Treasury Department have increased their efforts to uncover U.S. taxpayers who are allegedly evading U.S. taxes by hiding assets in Switzerland
Today, the Swiss National Bank (SNB), as part of its effort to “strengthen the Swiss financial system,” announced it has reached an agreement with UBS for long-term financing and orderly liquidation of illiquid securities and other troubled assets in the amount of no more than $60 billion
