News Tag: tax evasion
November 5, 2009
Swiss banking giant UBS has been fined £8 million by the Financial Services Authority (FSA) - the third largest penalty ever handed out by the UK regulator.
However, the fine would have been £10 million but the Swiss bank agreed to settle with the FSA at an early stage.
The bank, which is Switzerland’s fourth largest, was fined for failing to stop four ...
Swiss bank UBS fined £8m
by Kay Murchie
May 5, 2009
UBS, which is Switzerland's largest, bank, has reported a first quarter loss of SwFr1.98 billion (£1.2 billion).
The bank said the losses were attributed to write-downs on risky investments. However the loss was less than the SwFr9.5 billion reported for the fourth quarter of 2008.
The Swiss bank is among one of the worst hit victims of the sub-prime crisis due ...
UBS reports first quarter loss of SwFr1.98bn
by Kay Murchie
