Pursuits
Switzerland Urges Banks to Meet U.S. Disclosure Deadline
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Swiss authorities are urging banks to quash their doubts and enter a U.S. voluntary disclosure program aimed at uncovering American tax evaders.
The Swiss financial watchdog Finma requested banks to decide by today whether they will join the first stage of the U.S. Department of Justice program by applying for non-prosecution agreements by the end of 2013. Swiss Finance Minister Eveline Widmer-Schlumpf responded today to lawmaker complaints that the government failed to resolve the tax dispute in 2 1/2 years of talks with U.S. authorities.