Revised UBS Agreement Submitted to Parliament for Approval; Federal Council Passes Dispatch
Bern, 14.4.2010 - Implementing the UBS Agreement between Switzerland and the US is the only way to ensure that the legal and sovereignty conflict with the US can be set aside, that client details can be disclosed through a constitutionally sound process, and that risks for the Swiss economy can be avoided. With this in mind, the Federal Council passed the dispatch on the acceptance of the revised UBS Agreement to parliament on Wednesday. It also decided to present a draft federal resolution to parliament in order to pass the costs arising from the treaty assistance case onto UBS.