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UBS Group AG building in St. Gallen.UBS maintains strict banking secrecy practices which have been used to facilitate tax evasion. The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking ...
This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were: taken over or merged with another financial ...
Swiss bank UBS is set to shell out more than $1.4 billion to settle accusations of “historic” fraud relating to its role in the 2008 financial crisis.
UBS has seen its shares gain 30% since the takeover was announced on March 19. But news of the probe could renew investor concerns about the lender’s exposure to Credit Suisse’s legal woes and ...
UBS agreed to pay $1.44 billion in penalties to settle allegations of fraud in the sale of residential mortgage-backed securities, the Department of Justice announced on Monday, resolving a case ...
The 2007–2008 financial crisis affected Credit Suisse less than peers; [10] [11] while the Swiss National Bank, the central bank, rescued rival UBS after no private investor was willing to do so by purchasing $60 billion of toxic assets and $5.3 billion in shares of stock from UBS as a form of a capital infusion, Credit Suisse raised a far ...
Swiss taxpayers are off the hook from a government-engineered rescue plan that doled out billions to help UBS, the country's largest bank, take over its ailing rival Credit Suisse. UBS said Friday ...
The loss to UBS was described as "manageable" although it might cause UBS to report a net loss in the following financial quarter. The bank's net earnings for the year ending June 2011 were $6.4 billion [13] with a gross profit of approximately $1.1 billion reported by UBS for the third quarter of 2011.