Swiss-headquartered UBS suffered more than many of its competitors during recent years. Its troubles started before the financial crisis, when a whistleblower claimed the bank was helping some US clients evade tax. The case became public in May 2008 when UBS disclosed it was under investigation by Swiss and US authorities.
During the investigation the US Internal Revenue Service (IRS) filed criminal, regulatory and civil proceedings against UBS. All have since been settled.
The case also led to
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