Friday, August 21, 2009

USB Agreement & US-Swiss Agreement

UBS entered into a deferred prosecution with DOJ (see here).  The agreement included that UBS would provide the U.S. government "with the identities of, and account information for, certain United States customers of UBS’s cross-border business." The process initially moved slowly. Eileen C. Mayer, Chief of IRS-Criminal Investigation, called one prosecution "the tip of the iceberg." (see here).  An issue that needed to be resolved involved an agreement between the US and Swiss government.  That agreement has been reached.  This is a copy of the US-Swiss Agreement - Download US-Swiss Agreement Declararaions Signed.  The Bank's Agreement with DOJ is here - Download Bank_agreement

(esp)(w/ hat tips to Tiffany M. Joslyn of NACDL and Peter Hardy of Post & Schell).

http://lawprofessors.typepad.com/whitecollarcrime_blog/2009/08/usb-agreement-usswiss-agreement.html

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