Looks like UBS (UBS) isn't going to hand over files on its American clients to U.S. tax authorities.

Nationalist and left-wing lawmakers blocked a treaty with the U.S. that would have allowed UBS to hand over said files. This "treaty" was reached last August between the Swiss government and Washington in order to put to rest a disagreement about UBS's supposed role in tax evasion. The boondoggle was that the Social Democrats wanted a commitment from the government to tax bankers' bonuses and the People's Party wanted a vote against the tax before dealing with the U.S. tax treaty.

Continue reading Swiss Lawmakers Reject Deal to Name American Clients of UBS

Swiss Lawmakers Reject Deal to Name American Clients of UBS originally appeared on BloggingStocks on Tue, 08 Jun 2010 11:00:00 EST. Please see our terms for use of feeds.

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