Promulgations » LawLibrary » Switzerland: Federal Administrative Court Chastises Financial Markets Authority for Releasing UBS Records to IRS

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  Switzerland: Federal Administrative Court Chastises Financial Markets Authority for Releasing UBS Records to IRS

  Posted: January 8th, 2010, 12:00pm MSK

  Tags:    [edit]

  Banks and financial institutions - On January 5, 2010, the Federal Administrative Court issued a judgment in which it held that the Swiss Financial Markets Supervisory Authority (Eidgenssische Finanzmarktaufsicht, FINMA)had acted unlawfully on February 18, 2009, when it ordered UBS AG,...