- UBS fined $780 million by the US government
- UBS’s entire Swiss executive management fired
- UBS entered into a deferred prosecution agreement with the US government
- UBS forced to reveal 4,700 secret US account holders in Switzerland (historic precedent)
- UBS’s US offshore business in Zurich, Geneva and Lugano offices closed permanently
- New US/Swiss tax treaty signed and implemented
- 3 US Senate hearings held
- 3 US Senate reports issued
- 3 IRS Amnesty Programs implemented (historic precedent)
- 4 US Government Accountability Office (GAO) reports published
- $25 billion and counting repatriated back to the US (historic precedent)
- Swiss parliament compromises its 1934 bank secrecy laws (historic precedent)
- 100 Swiss banks fined and signed agreements with the US government (historic precedent)
- 100,000 US citizens and counting now in tax compliance with the US government (historic precedent)
- Multiple foreign governments investigating criminal conduct of UBS
- UBS’s head of investment banking home was raided by Greek tax investigators
- UBS headquarters in Frankfurt was raided by 130 German tax enforcement agents
- Swiss Supreme Court orders UBS to divulge 40,000 secret French bank accounts
- Swiss implement OECD standards on automatic exchange of information in tax matters
- UBS convicted of tax evasion and money laundering and ordered to pay $2 billion