Reported 2 days ago
UBS is reportedly nearing a settlement that requires it to pay hundreds of millions of dollars for Credit Suisse's past tax evasion violations, as detailed in a Wall Street Journal report. A resolution could be reached as soon as this week, following findings from a U.S. Senate Finance Committee that Credit Suisse breached a 2014 plea deal by facilitating tax evasion for wealthy Americans. UBS, which owns Credit Suisse, previously pleaded guilty to similar charges in 2014.
Source: YAHOO