Swiss in bid to save bank secrecy deal

Article reports that the Swiss government would reveal on the 27 January 2010 how it will rescue an August 2009 decisive deal with Washington about bank secrecy involving the Swiss bank UBS after the Swiss Federal Administrative Court, the country’s highest administrative court, derailed the agreement in the previous week.

The US authorities could now restart legal action against UBS.

Website: Swiss Federal Administrative Court http://www.bundesverwaltungsgericht.ch/

Swissinfo.ch, 24.1.10: Parliament urged to resolve UBS data question http://www.swissinfo.ch/eng/business/Parliament_urged_to_resolve_UBS_data_question.html?cid=8155956

ESO: Background information: Washington wins UBS accounts deal http://www.europeansources.info/record/washington-wins-ubs-accounts-deal/

Switzerland: Federal Department of Finance: Topics: Dossiers: Banking secrecy http://www.efd.admin.ch/themen/00796/01377/index.html?lang=en

Swissinfo.ch, 8.1.10: Court rules UBS data transfer to US illegal http://www.swissinfo.ch/eng/business/Court_rules_UBS_data_transfer_to_US_illegal.html?cid=8038384

---