UBS: A Lesson in Extraterritorial Enforcement of US Law

MoneyWorks
04.01.10
Nowhere in recent memory has there been a more direct conflict between one country’s enforcement efforts and another country’s local laws than in the recent attempts by the US to obtain the bank account information of US citizens from the biggest Swiss bank, UBS. It is this conflict that forms the basis for the brief case study presented in this article by Virginia La Torre Jeker of Far East Management Consultants, and George Clarke, Larry Christensen, Matt Reinhard, and Steve Dixon of Miller & Chevalier. This study is followed by a discussion of other US laws that are projected in an equally robust manner by the US and that can form the basis for very similar concerns in the eyes of foreign individuals, businesses and governments.
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