UBS is rejecting a €billion-dollar settlement with French authorities following a long-running offshore tax investigation. CEO Sergio Ermotti says it is more a question of honour for the bank rather than purely a financial one. This is likely to result in UBS' lawyers having a face-off against the French prosecutors in court this week.
UBS is rejecting a €1.1bn settlement with French authorities following a long-running offshore tax investigation. CEO Sergio Ermotti says it is more a question of honour for the bank rather than purely a financial one. This is likely to result in UBS' lawyers having a face-off against the French prosecutors in court this week.