Swiss Wegelin Tells Clients To Exit US Secs Amid Tax Scrutiny

August 26th, 2009

Dow Jones Newswires

ZURICH — Swiss private bank Wegelin & Co. said Tuesday it is telling American clients to exit U.S. securities given heightened Internal Revenue Service scrutiny of tax dodgers.

The St. Gallen, Switzerland-based bank for the wealthy said Swiss banks risk becoming the “extended arm of U.S. tax authority” if firms are left to judge who is subject to U.S. tax.

Continue reading at

Written by admin

Follow @FinTrCo