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Swiss Court Ruling Clears Obstacle to UBS Settlement with U.S.
By Brian Monroe
printA decision by a Swiss court suspending challenges of a U.S. investigation of UBS AG accounts has cleared the way for Swiss lawmakers to decide in June whether to turn over account data. The Swiss Federal Administrative Court in Bern said Thursday that a March 31 amendment to an agreement with the United States on the investigation suspended its ability to hear appeals by UBS accountholders challenging U.S. access to their accounts. The amending protocol effectively overturned a January ruling that blocked U.S. access to the accounts. The decision Thursday by the Swiss court "totally destroys" appeals by most UBS...
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