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S U B S C R I B E
Thursday, 26 August, 2010
Time's up for UBS names handover
A year after the historic settlement with the United States, today’s the last day for Switzerland to hand over the names of over 4,000 U.S. tax evaders to the IRS. The Federal Council agreed to breach Swiss banking secrecy in order to get UBS out of a massive civil suit in the United States. The crisis blew a hole in the Swiss tradition of financial secrecy, rocking both the government and the banks. But some worry the date will pass by without a full accounting of what happened at UBS. WRS’s Jordan Davis has been following the saga.
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In the hope that the tax fraud controversy is now behind it UBS is launching a new advertising campaign, its first in two years, in the hope of winning back clients and attracting new ones. Print ads will begin running in Switzerland, across Europe and parts of Asia in late August and will hit the United States later this year. From Washington, WRS’s Kate Moody reflects on the challenges facing the company as it attempts to rebuild its public image.
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