About a decade after Swiss bank secrecy laws started to crumble under the impact of a U.S. investigation, one of the last large lenders still entangled in the matter agreed to settle the dispute.
A former Swiss banker was acquitted of helping U.S. clients dodge taxes, dealing prosecutors a dramatic loss in their efforts to hold individuals responsible after the government successfully targeted financial institutions.
UBS Group AG suffered a setback in a long-running French tax probe as a court rejected its bid to stop a former executive from striking a plea deal in the case.
