#Western Europeans may pull as much as $139 billion, or 15 percent of their holdings, from Swiss banks, said Herbert Hensle of Cap Gemini. Bank Sarasin & Cie. AG reported last week that private clients withdrew 3 billion francs from Swiss locations in
US prosecutors have offered several former junior UBS employees protection from criminal charges in exchange for their cooperation with their expanding probe into alleged Libor manipulation, according to reports.
Among those charged were the firm’s chairman, Peter Zuck, 62, of Middletown, whom the state said also was a three-time convicted criminal.
Heinz and Welty are charged along with Peter Ghavami, the former head of UBS’s municipal-derivatives group, with conspiracy to defraud municipal-bond issuers and U.S. tax authorities by fixing the prices on the investing agreements.
The ruling is a blow to Canada's second-largest bank, which is embarking on an aggressive expansion plan in the U.S., including into the sunshine state of Florida, a second home to many snowbird Canadians.
US regulators have dropped a four-year investigation into manipulation of the silver market, according to reports. The decision, if true, will take pressure off JP Morgan and HSBC who were the main focus of legal complaint that sparked the regulatory pro
The part-nationalised lender made the disclosure in its half year results on Friday, where it reported a loss of £1.5bn in the first six months of 2012 and set aside £125m to cover costs related to the recent IT problems.
Trevor Murray was employed by UBS Securities LLC from May 2007 until he was fired in September 2009, and then returned to the company in May 2011, he said in a lawsuit filed today in federal court in Manhattan.
He began serving a 40-month sentence in January 2010 at Schuylkill Federal Correctional Institution, and received good-time credit that reduced his term, said his attorney, Stephen M. Kohn. His brother, Douglas, drove him to a halfway house i
The tales of how difficult the bank found it to recover account files from branches around Mexico when law enforcement agencies requested them, and the details of minimal documentation on thousands of accounts opened in a virtual branch in the Cayman Isla