Fox Business - The Power to Prosper
Search Site

Wegelin & Co.

Related Topics

  1. Julius Baer Group
  2. UBS
  3. Axel Weber
  4. U.S. Banks
  5. Kweku Adoboli
  6. M&T Bank
Get updates on Wegelin & Co.
Swiss Bank Tied to Indictment Eyes U.S. Registration

A Swiss private bank that recently suspended an executive who allegedly helped U.S. taxpayers evade obligations is considering opening a U.S. branch, two people familiar with the matter said Wednesday, a step intended to help it comply with U.S. regulations.Zurich-based Bank Frey & Co. AG may register with the U.S. Securities and Exchange Commission to manage customer assets in the country, the people familiar with the matter said. Bank Frey believes that obtaining a local registration would demonstrate it is in compliance with U.S. rules, according to the people.Opening a branch in the U.S. would be a departure from Bank Frey's traditional practices, which have limited it to operations in Switzerland that are governed solely by Swiss law.Last month, Stefan Buck, Bank Frey's head of private banking, was indicted in New York alongside Edgar Paltzer, a Zurich-based attorney who allegedly recommended clients to Mr. Buck. The men were charged with helping Americans open accounts to hold fu...

Read More ›

  1. Former Swiss Banker Pleads Guilty in U.S. Tax Probe

    A former Swiss banker pleaded guilty on Tuesday to helping Americans hide millions of dollars from U.S. tax authorities, and a judge noted the banker has aided inves...

  2. Swiss Court Stops Credit Suisse Sending Data to U.S.

    A Swiss court on Wednesday temporarily banned Credit Suisse, the country's second-biggest bank, from handing confidential information about a bank employee to U.S. t...

  3. HSBC Divulges More Staff Names in Tax Evasion Probe

    Global bank HSBC has handed over details of current and former employees to the U.S. authorities, it confirmed on Wednesday, as part of a tax probe that almost sank ...

  4. A Hard Transformation For Swiss Banks

    These are challenging times for Swiss private banks.The latest U.S. crackdown on tax havens underlines the reality that the secretive Swiss bank model, which has exi...

  5. CORRECT (02/08): UBS Gives Information On Swiss Rivals In US Tax Dispute -Report

    (" UBS Gives Information On Swiss Rivals In US Tax Dispute -Report," at 1818 GMT on February 8, didn't specify the year that the comment was made in the last paragra...

  6. UBS Gives Information On Swiss Rivals In US Tax Dispute -Report

    American investigators broadened their inquiries into alleged tax evasion to Swiss private banks such as Wegelin & Co. and Julius Baer Holding AG (BAER.VX) using inf...

  7. Julius Baer Expects Fine In US Tax Matter, Profit Down

    ZURICH -- As it reported a decline in full-year net profit, Julius Baer Group (BAER.VX) Monday said it expects to pay a fine as a result of a U.S. campaign to track ...

  8. Julius Baer Investors To Focus On Tax Battle, Not Numbers

    When Swiss private bank Julius Baer Group (BAER.VX) reports full-year earnings Monday, the numbers are likely to take a backseat as investors look for evidence of ho...

  9. U.S. May Take Legal Action Against Swiss Bank : Report

    U.S. authorities are moving toward taking legal action against Wegelin & Co, which could lead to an indictment of one of Switzerland's last pure private banks, on ch...

  10. Swiss committed to solving U.S. tax spat: report

    ZURICH (Reuters) - Switzerland does not need an emergency law or a separate treaty as it works toward a solution in its latest tax spat with the United States, finan...

  11. U.S. readies papers v. Swiss banks on tax evasion

    By Lynnley Browning(Reuters) - The United States is drafting legal documents that seek to force nearly a dozen Swiss banks and international banks with Swiss branche...

  12. U.S. sets ultimatum in Swiss bank tax dispute: reports

    By Emma ThomassonZURICH (Reuters) - The United States has written to Switzerland to demand it hands over detailed information this week on its citizens using Swiss a...

  1. Swiss Bank UBS: Clients Must Tell Tax Authorities About Assets

    UBS AG (UBS) has begun requiring prospective clients to guarantee funds moved into Swiss accounts from other countries have been reported to tax authorities, a move ...

  2. Authorities Charge Swiss Banker, Attorney in Tax Probe

    Authorities on Tuesday charged a Swiss banker and a Swiss attorney with helping American clients hide millions of dollars in offshore accounts to evade paying taxes....

  3. SAC's Martoma switches lawyers in insider-trading case

    Mathew Martoma, a former portfolio manager at hedge fund SAC Capital Management, has hired a new lawyer to defend him in his insider-trading case.Martoma has brought...

  4. Swiss Bankers' Chief Downbeat On U.S. Tax Settlement - Report

    The head of the Swiss bankers' association is pessimistic about a speedy solution to the tax dispute between Switzerland and the U.S, he said in an interview publish...

  5. Swiss Bank Wegelin Ordered to Pay U.S. $22 Million Fine

    Switzerland's oldest bank was ordered to pay a total of $74 million to the U.S. government in the first-ever criminal sentence for a foreign bank accused of violatin...

  6. IRS to Seek Details From UBS on Possible U.S. Tax Evaders

    A judge has ordered U.S. tax authorities to seek information from UBS AG (UBS, UBSN.VX) on American taxpayers who might hold accounts at Swiss banks with the aim of ...

  7. Swiss Bank Wegelin to Close After U.S. Tax Evasion Fine

    Wegelin & Co, the oldest Swiss private bank, said on Thursday it would shut its doors permanently after more than 2 1/2 centuries, following its guilty plea to charg...

Freebase CC-BY
Source: Wegelin & Co. on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL