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Old 24.04.2010, 12:06
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WSJ: Swiss parliamentary comm.n recommendes vote against UBS-USA deal

Swiss Panel Advises Against UBS-U.S. Deal

The Wall Street Journal
April 24, 2010


ZURICH—A Swiss parliamentary commission recommended that lawmakers vote against a government plan under which UBS AG could hand client data to U.S. authorities.

The foreign affairs commission of the Lower House voted, 15-9, against the plan, which would have UBS by June hand over data from 4,450 accounts of alleged tax dodgers and cheats to U.S. authorities. The commission said the deal undermines Swiss law.

The vote reflects resistance against the plan that risks crippling Swiss banking secrecy, and analysts said it may be a sign that the Swiss Parliament may vote against the proposal at its scheduled vote in June. UBS declined to comment on the commission's recommendation.


Rest at: http://online.wsj.com/article/SB1000...339516220.html
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