UBS, Swiss Government, and Banking Associations All Oppose U.S. Request to Enforce John Doe Summons

In a closely watched case by the international financial services community and governments, UBS has filed its brief in a the U.S. District Court for the Southern District of Florida, opposing the U.S. government’s petition for enforcement of a John Doe Summons issued to the bank to identify individuals who have violated federal income tax laws by failing to report income in undeclared accounts with the bank, arguing that compliance would violate Swiss law and the provisions in Swiss-U.S. treaty arrangements...[more]