Switzerland plans to appoint more judges for UBS clients exposure case

image Up to 5 temporary judges will be appointed to address the complaints filed against the largest Swiss bank UBS over the agreement to hand over data on some of the bank’s clients to US authorities, said the administration of Switzerland.

According the official statement the new appointments will be limited to two years and are intended to speed complaints through the Federal Administrative Court following a deal between Bern and the United States that allows client details to be surrendered in the case of "tax fraud and the like" by U.S. citizens with Swiss UBS accounts.

Earlier in August Switzerland agreed to provide names of about 4,450 wealthy American clients of UBS, the world’s second-largest wealth manager, in a tax dispute settlement that pierced Swiss banking secrecy.
500 complaints are expected to be submitted this year says Swiss government with more to come in 2010 depending on the outcome of initial complaints.


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