Financial Transparency Coalition

ZURICH (Dow Jones)--UBS AG's (UBS) organizational and operational restructuring is on track, but the Swiss bank's efforts to renew client trust will require long and hard work, Chief Executive Oswald Gruebel warned.

Tax Justice Network USA put out a number of recommendations for the US Government following the announcement of the settlement in the UBS case. In case you haven't seen it yet, TJN recommends that the US:

• Insist that the issue of cross?border tax evasion be on the agenda of the September G?20 Summit in Pittsburgh.
• Push for immediate international action to facilitate increased tax information exchange.
• Press for mandatory standards of bank behavior enforced by home governments that preclude assisting in cross border tax evasion.
• Use the UBS disclosures to prepare and serve additional "John Doe" summonses on other banks known...

Sen. Carl Levin (D-Mich.) issued the following statement on the settlement of the UBS John Doe summons.

The final documents from the US settlement with UBS.