If they lose their license to operate as a bank in the U.S?
http://www.guardian.co.uk/business/2...29/ubs.banking
To sum it up, UBS is under a number of investigations involving hiding money for wealthy Americans so they can avoid paying taxes. The U.S has cornered UBS and said that either UBS opens up it's books (which violates Swiss secrecy banking laws in Switzerland) or it losses it license in the U.S.
I have spoken to a few friends that work for UBS and they said not a chance in hell will they open up their books because it would expose non Americans as well ( the U.S blackmailing? Nooo ) So it looks as if UBS would rather lose its license. So then what becomes of this mega bank when that happens? I think they will end up as a private bank for the wealthy and let Credit Suisse take over the helm. Either way UBS is up shit creek without a paddle.
http://www.guardian.co.uk/business/2...29/ubs.banking
To sum it up, UBS is under a number of investigations involving hiding money for wealthy Americans so they can avoid paying taxes. The U.S has cornered UBS and said that either UBS opens up it's books (which violates Swiss secrecy banking laws in Switzerland) or it losses it license in the U.S.
I have spoken to a few friends that work for UBS and they said not a chance in hell will they open up their books because it would expose non Americans as well ( the U.S blackmailing? Nooo ) So it looks as if UBS would rather lose its license. So then what becomes of this mega bank when that happens? I think they will end up as a private bank for the wealthy and let Credit Suisse take over the helm. Either way UBS is up shit creek without a paddle.
Just Trade It