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FT.com / Companies / Banks - Bern to block UBS handing records to US
The Swiss government on Wednesday waded into the legal battle between UBS and the US authorities by saying it would forbid the bank from handing over confidential client information if a crucial court case next week required it.

Bern warned it might go as far as confiscating the data, should a US court in Miami rule the bank was obliged to transfer the client names requested.



"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
by Melanchthon on Wed Jul 8th, 2009 at 12:01:11 PM EST
Will UBS lose regulatory approval to operate in the US or with US citizens as a result?

A man of words and not of deeds is like a garden full of weeds; a man of deeds and not of words is like a garden full of turds — Anonymous
by Migeru (migeru at eurotrib dot com) on Wed Jul 8th, 2009 at 12:02:06 PM EST
[ Parent ]
Don't be sure they'd necessarily choose one over the other... both big "Swiss" banks are heavily geared towards the US market...

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Wed Jul 8th, 2009 at 12:11:24 PM EST
[ Parent ]

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