Violation Tracker Individual Record

Company: 
UBS AG
Current Parent Company: 
UBS
Penalty: 
$780,000,000
Year: 
2009
Date: 
February 18, 2009
Primary Offense: 
tax violations
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 Parent: 
Switzerland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.