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Swiss Parliament Okays UBS Data Handover
By Colby Adams
printSwitzerland will begin disclosing account data on nearly 4,000 UBS AG clients within a week after Swiss lawmakers Thursday approved the handover, marking an unprecedented exception to the country's bank secrecy laws. Both houses of the Swiss Parliament approved a treaty earlier this week that would allow UBS to cooperate with a U.S. investigation into tax evasion, but the lower house said that its approval would be contingent on putting the deal to a popular vote in September. The referendum would've forced UBS to break an August 2009 deal with U.S. authorities to turn over bank data by this summer....
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