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Big Bank To Pay Up Over Charges It Misled Investors

Reuters | Jonathan Stempel | Posted 08.06.2013 | Business

(Reuters) - UBS AG agreed to pay $49.8 million to settle U.S. Securities and Exchange Commission charges it misled investors about a mortgage bond tra...

Rogue Trader's Bank Fined For Allowing Him To Screw Up

AP | Posted 01.25.2013 | Business

LONDON (AP) — Britain's financial regulator has fined UBS AG for failures which allowed a rogue trader to lose $2.3 billion in the country's biggest...

The Tax Man Is Looking More Closely At Multimillionaires

Reuters | Posted 05.22.2012 | Business

WASHINGTON, March 22 (Reuters) - U.S. tax officials are putting a closer microscope on the tax filings of multimillionaires, with the audit rate for...

How To Stash Cash In An Offshore Bank Account

AP | CONNIE CASS | Posted 04.14.2012 | Business

WASHINGTON — Movie super spies James Bond and Jason Bourne use them. So do real-life presidential candidate Mitt Romney, who says he pays his ta...

Case Reveals Potential Tax Evasion Links At Swiss Banks

Reuters | Posted 03.06.2012 | Business

* Indictment of 3 Wegelin bankers highlights ties * Inter-bank links key to U.S. tax evasion crackdown * Authorities eye...

UBS To Significantly Downsize In Coming Years

AP | By The Associated Press | Posted 11.17.2011 | Business

-- Swiss lender UBS AG told investors how it is downsizing its investment bank and shrinking that division's staff as the overall bank tries to reduc...

Why We Are the 53% Fits Into We Are the 99%... Besides the Math

Edward Murray | Posted 12.17.2011 | Politics
Edward Murray

Regardless of what tax bracket we are in, I think we can all agree that it is morally reprehensible that the current financial system is structured to allow easy purchase of, and control over, our elected officials.

After Rogue Trader Fallout, UBS CEO Calls For Employees To Make Bank Less Risky

Posted 11.28.2011 | Business

UBS AG interim Chief Executive Sergio Ermotti appealed to staff in an internal memo to back efforts to make the bank less complex and risky, follo...

Swiss Bank Chair Regrets Taking On U.S. Clients After Tax Spat

AP | By FRANK JORDANS | Posted 11.14.2011 | Business

GENEVA -- The chairman of a Swiss regional bank caught up in a fresh tax evasion spat between the United States and Switzerland says he regrets taking...

UBS To Cut 3,500 Jobs

AP | Posted 10.24.2011 | Business

GENEVA -- Swiss bank UBS AG said Tuesday it is cutting 3,500 jobs worldwide as part of an effort to save 2 billion Swiss francs ($2.5 billion) annuall...

Wall Street Bankers 'Answer Call' Of New Careers

Reuters | Lauren Tara LaCapra | Posted 10.17.2011 | Business

(Reuters) - In his 23 years as a banker, Adam Greene trotted the globe, closing billions of dollars' worth of deals for some of the world's biggest ba...

Bank Announces Fresh Job Cuts After Disappointing Quarter

Posted 09.25.2011 | Business

GENEVA (AP) -- Swiss bank UBS AG lowered its annual earning forecasts and announced fresh job cuts Tuesday after posting sharply diminished second-qua...

More Examiners Will Now Work At Companies They Regulate

Wall Street Journal | AARON LUCCHETTI | Posted 08.20.2011 | Business

As part of a push to prevent another financial crisis, the Federal Reserve Bank of New York and the Office of the Comptroller of the Currency are incr...

Big Bank Admits Rigging Bidding Process To Win Business

AP | Posted 07.04.2011 | Business

WASHINGTON -- Big Swiss bank UBS AG has agreed to pay $160 million to resolve allegations of rigging the bidding process to win investment business fr...

SEC Su

bloomberg.com | Chris Peterson and Joost Akkermans | Posted 05.25.2011 | Business

May 13 (Bloomberg) -- U.S. federal prosecutors and the Securities and Exchange Commission are cooperating in a preliminary criminal probe into whethe...

UBS: Swiss Banking Industry

AP | FRANK JORDANS | Posted 05.25.2011 | Business

GENEVA — Embattled UBS AG has warned that Switzerland's financial industry is at risk unless lawmakers approve a tax treaty with the U.S., and t...

UBS Claw Back: Bank Takes Back $282M In Bonuses After 2009 Loss

bloomberg.com | Elena Logutenkova | Posted 05.25.2011 | Business

Feb. 10 (Bloomberg) -- UBS AG's loss in 2009 will trigger the bank’s bonus claw back mechanism for the first time, depriving senior bankers of 300 m...

UBS Profit 4Q: Swiss Bank Posts First Profit In More Than A Year

AP | FRANK JORDANS | Posted 05.25.2011 | Business

GENEVA — Swiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations ...

Tax Amnesty Deadline: IRS Extends Cutoff For Applicants

AP | STEPHEN OHLEMACHER | Posted 05.25.2011 | Business

WASHINGTON — Procrastinating tax cheats will get a few extra weeks to apply for an amnesty program that has been flooded with applications from ...

150 U.S.-Based UBS Clients To Be Charged With Tax Evasion

Reuters | Tom Brown | Posted 05.25.2011 | Business

MIAMI (Reuters) - The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax ...

UBS Tax Probe: US Citizen Charged, First One

Associated Press | Tamara Lush | Posted 05.25.2011 | Business

MIAMI (AP) -- A yacht company accountant became the first U.S. citizen Thursday to be charged in the government's investigation into wealthy citizens ...

Subprimes Push UBS to First Annual Loss

AP | ERNST E. ABEGG | Posted 05.25.2011 | Business

ZURICH, Switzerland — UBS AG on Thursday posted a fourth-quarter net loss of $11.28 billion, and a loss for the entire year, besieged as other b...

Subprime Crisis Forces UBS To Write Down $10 Billion

AP | ERNST E. ABEGG | Posted 05.25.2011 | Business

Swiss banking giant UBS AG said Monday it will write off a further $10 billion on losses in the U.S. subprime lending market and will raise capital by...