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Shang
02-19-2009, 04:15 PM
ZURICH (Reuters) - UBS's landmark settlement deal with U.S. tax authorities could be the final nail in the coffin for Switzerland's prized bank secrecy and will have far-reaching consequences for the whole offshore financial industry.

Under pressure from Washington, Berne agreed to let UBS pass on data of certain U.S. clients without waiting for an ongoing appeal process against the data transfer by some of these clients, an unprecedented step in Switzerland.
http://uk.reuters.com/article/topNews/idUKTRE51I1Z820090219


(Fortunately I have been able to secret away the Fabled Shang Millions in an iron-bound oak chest which I buried right here under this rock...
...uhh, no, I think it was THIS rock...
...hmmm... well... not there, so it must have been under THAT rock over there............. )

Concordia...41
02-19-2009, 04:18 PM
Yep. I should be so lucky as to have to worry about my Swiss bank accounts :rolleyes: :D