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Business

UBS looks to face loss in landmark Swiss client data ruling

LAUSANNE: Swiss federal judges on Friday steered toward delivering UBS a loss in a landmark ruling over delivering clien

Jul 26 2019

LAUSANNE: Swiss federal judges on Friday steered toward delivering UBS a loss in a landmark ruling over delivering client data to France, after three of the five judges spoke out in favour of handing over the information.

Swiss federal judges are set to rule on whether the Swiss tax administration should reveal the identities of over 40,000 UBS bank account holders to French authorities.

The final verdict in the oral deliberation--which may go through further rounds of discussions--remains outstanding. It is expected Friday afternoon.

Copyright Reuters, 2019