Financial Transparency Coalition

Washington Post - U.S. and Swiss negotiators have initialed a settlement that averts a legal showdown over the U.S. government's landmark challenge to Swiss bank secrecy, a government lawyer said Wednesday.

ZURICH (Reuters) - The Swiss government held a special session on Monday to discuss the U.S. tax evasion case hanging over Swiss bank UBS as negotiations to settle the issue dragged on.

The trial in the U.S. government's landmark challenge to Swiss bank secrecy was postponed Friday for a third time as the United States and Switzerland continue to pursue a negotiated settlement.

Global Financial Integrity has come out with recommendations today for the US government on how to proceed as the UBS case begins to come to a close. From GFI:

U.S.-Swiss Tax Treaty: In June an amendment to the U.S.-Swiss tax treaty was agreed to but not yet ratified. Statements from U.S. and Swiss parties to the negotiations indicate that information exchange would still rely on exchange upon request and would require the U.S. to provide names of suspected tax evaders to obtain information on their undisclosed accounts. The U.S should push for...