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Violation Tracker Individual Record

Company: UBS AG
Current Parent Company: UBS
Penalty: $780,000,000
Year: 2009
Date: February 18, 2009
Offense Group: financial offenses
Primary Offense: tax violations
Mega-Scandal: Assisting Tax Evasion
Violation Description: As part of a deferred prosecution agreement, UBS AG agreed to immediately provide the United States government with the identities of, and account information for, certain United States customers of UBS's cross-border business. UBS also agreed to expeditiously exit the business of providing banking services to United States clients with undeclared accounts. UBS further agreed to pay $780 million in fines, penalties, interest and restitution.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Tax Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.