On the same day that UBS tax whistleblower Bradley Birkenfeld had to report to federal prison, a Swiss court issued an order saying that FINMA, a Swiss regulatory agency, erred in ordering UBS to turn over information about 300 clients. The court concluded, according to Reuters, that FINMA’s unilateral action weakened Switzerland’s strict bank secrecy rules. The report notes that the investigations into Switzerland’s biggest bank had prompted clients to withdraw huge sums.
As Birkenfeld reports to jail, Swiss court toughens bank secrecy
- WNN Staff
- Categories: IRS & Tax, News
- Tags: IRS & TaxTax Whistleblowers
Related Content
Advocates Raise Concerns Over Unnecessary Delays in IRS Whistleblower Awards
By
Rosalie Chen
May 1, 2024
Importance of IRS Whistleblowers Highlighted Ahead of Tax Day
By
Geoff Schweller
April 15, 2024
Supreme Court Passes on IRS Whistleblower Case
By
Kailey Monsivais
April 10, 2024
Advocates Call for IRS Whistleblower Improvement Act to be Included in Bipartisan Tax Bill
By
Geoff Schweller
March 14, 2024