The Irs Again Looking For American Clients Of Swiss Bank Ubs

By Author: Italo Zanotti
Total Articles: 62
Comment this article

The American tax again on the hunt for UBS clients: last week the authorities have initiated proceedings against twenty alleged tax evasion, mind of whom had accounts in Swiss banks. Also in the U.S. the former manager Bradley Birkenfeld moves institute new charges, accounts ultrasegreti talking to people such as politicians. And while the press is already thinking about the Sunday after Oswald Grübel - the CEO should be replaced in the next 12-18 months - FINMA investigating the bonus program that did so much to discuss.
According to the "SonntagsZeitung" the new pay system PPI - strongly criticized in the assembly on Wednesday, 40% of shareholders opposed it - was brought to the supervision of financial markets. FINMA now wants to determine whether the program is compatible with its directives, but that effect from 2010: problematic are the lack of a penalty in the case of negative performance of the bank and the leverage that if you increase the course actions, would increase significantly bonuses. IPP 900 senior concerns: according to the "SonntagsZeitung" about 230 of them working in Switzerland.
That bonus ...
... will be one of the issues that the Board of Directors of UBS must next address, writes the NZZ am Sonntag: it will develop a new system that can do well is to FINMA, both to shareholders. The Board will also be required to address the issue of new structures (including variants, that of a holding company), to reassess the responsibilities of directors passed (in the light of the no discharge for 2007) and find personalities that could represent Asia - high growth market - within the Board, said Sunday.
Administrators starebbero also thinking about a change at the top, to be carried out in stages: as the "NZZ am Sonntag" Kaspar Villiger first seek a successor to Oswald Grübel - departure: in a year or a year and a half - and then resign to his After his resignation. When no candidate would be first in line to take the future operational guide.
UBS is therefore looking to the future, but it still has at least one foot in the past to coincide with the deadline of submission of tax returns public, the American tax IRS announced this week a new wave of cases against tax evaders who have defrauded 100 million dollars. Part of the dozen people involved - many UBS clients - has already admitted the charges and the IRS expects others to do likewise next week before a judge.
Meanwhile Birkenfeld launches a new stone in the pond: in an interview published by the New York Daily News, "the manager said that among the 'clever' with UBS secret accounts abroad there are also some politicians. The bank - claims Birkenfeld - had an office in Washington called "PEP", "politically exposed persons' only senior bank executives knew the names of customers and political. UBS in New York also has a coordinating office responsible for directing customers to American consultants in Switzerland during the demonstrations organized by the High Society, where the bank would intervene as a sponsor, they were actively looking for new clients, says Birkenfeld, who is serving a sentence of 40 months in prison for complicity in tax fraud. A spokeswoman for the American subsidiary of UBS dismissed the charges.

- - - - - - - - - - - - - - - -
For other news, please this site http://www.newsbusinessnews.blogspot.com