Bern, Switzerland (GenevaLunch) – The Swiss government Wednesday 8 July issued a terse statement saying it replied to a US federal court in Miami, Florida that UBS, Switzerland’s largest bank, cannot under Swiss privacy laws share client data. The statement adds that “the government of Switzerland also points out that the necessary measures to implement Swiss law have been prepared”, without providing details.
The US court had said 30 June that UBS could expect not to be prosecuted if it turned over the information, but the Swiss government says the ruling Federal Council has made it clear that UBS cannot comply with the US order and that the Federal Justice and Police Department will carry out the order to ensure this, if circumstances require it.
The court in Miami has ordered UBS to turn over client information abut 52,000 account holders in a case that the Swiss widely view as a fishing expedition, without the evidence that is required for such requests under the existing treaty between the two countries.
Background: GenevaLunch articles tagged “UBS”
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News story, GenevaLunch, 8 July 2009.
Filed under: Politics
Tags: Cabinet, data protection, Florida, government, Miami, Swiss banking secrecy, Swiss news, Switzerland, UBS, US court order, USA
July 9th, 2009 at 8:05 am
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