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2013 Swiss Bank Settlement News

June 27, 2013 - Swiss to debate moves to settle US tax dispute next week
"The government will discuss this at its next meeting" on July 3, government spokesman Andre Simonazzi said at the government's weekly press briefing on Wednesday.

June 24, 2013 - Swiss government delays bid to settle U.S. tax dispute
The Swiss government will consider ways to allow the country's banks to hand over information to U.S. authorities either next Wednesday or a week later, a spokesman said on Friday, later than previously indicated.

June 18, 2013 - Swiss Parliament Pushes Back on U.S. Banks Deal
Parliament's summer session is scheduled to end Friday. The autumn session begins Sept. 9.

June 18, 2013 - Swiss lawmakers reject deal to end US tax spat
By a wide margin of 126-67 with two abstentions, Switzerland's National Council voted not to discuss the measure which is intended to let Swiss banks sidestep secrecy laws so that they can pursue settlements with U.S. prosecutors. It instead sent it back to the upper house for reconsideration.

June 18, 2013 - Foreign banks in Switzerland favour US bank deal
Alfredo Gysi, who heads the Association of Foreign Banks in Switzerland, told reporters in Zurich he hoped the lower house of the Swiss parliament would give its blessing Tuesday to a secretive deal between Bern and Washington to settle the dispute.

June 18, 2013 -Swiss parliament stalls progress of U.S. tax deal
The lower house voted by a large majority not to discuss the legislation, referring it back to the upper house.

June 15, 2013 - Swiss Government Backs Move Toward Sharing Bank-Account Dat
A group of academics and government officials appointed by the finance ministry recommended in a report today that Switzerland start to work immediately on developing global standards for exchanging data within the framework of the Organization for Economic Cooperation and Development.

June 14, 2013 - US bank deal hits stumbling block in Switzerland
Sixteen members of the lower house of parliament's economic affairs committee voted against the so-called "Lex USA", with just nine votes in favour, committee president Christophe Darbellay told reporters, according to the ATS news agency.

June 14, 2013 - Swiss committee says parliament should ditch debate on U.S.
If the lower house were to follow the recommendation not to debate the draft law, or if they reject it next week, it would severely limit Switzerland's options to free its banks from the threat of criminal action from the United States.

June 13, 2013 -Senate approves US tax probes bill
The draft law now goes to the House of Representatives next week.

June 13, 2013 - Swiss Committee Recommends Rejection of U.S. Tax Bill
Lawmakers in the upper house’s economics committee early this morning voted by 7 to 6 encouraging the plenary to reject the bill, the parliamentary services office said.

June 10, 2013 - Swiss lawmakers want info on U.S. undeclared-accounts deal
Parliamentarians followed a proposal from the Social Democrats SP, with 100 in favor and 90 voting against, urging the government to provide more details. There were 4 abstentions.

June 7, 2013 --Bern suspends debate on U.S. tax deal
The Swiss People’s Party raised a further point of order, demanding the topic be struck from the agenda of the current session altogether.

June 3, 2013 - Swiss banks have 120 days to reach U.S. tax deal
The deal with the U.S., however, will only give Swiss banks trying to settle legacy tax evasion issues 120 days in which to deliver bank data and negotiate fines, the paper reports, without specifying when the 120-day period begins.

May 31, 2013 - Switzerland Weighs Deal in Tax Cases
The Swiss government is considering a proposal to disclose bank client names and pay a multibillion-dollar fine to the United States to help resolve a long-running dispute between the two countries over the handling of tax-evasion cases, American and Swiss sources briefed on the matter said on Tuesday.

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