Raiffeisen entered a U.S. tax settlement program in the third category, or as a bank with no criminal dealings. The Swiss cooperative bank has left the program – without paying a fine.
Raiffeisen hasn't violated criminal law in dealing with wealthy U.S. clients, according to an agreement reached with the U.S. Department of Justice's tax investigators, the bank said on Friday.
The agreement, which ends the matter for Raiffeisen, was reached more than two years after the bank first entered the program, which is an Swiss banking industry-wide one to clear up for past misdeeds with U.S. clients and offshore accounts.
The Shock Markets Chose to Shrug Off
iCapital Recruits Former Goldman Sachs Chairman and CEO to Zurich
Lombard Odier Unifies Investment Risk Management With Bloomberg
J.P. Morgan AM EMEA-CEO: «Switzerland Offers Something Many Countries Have Lost»
UBS Study: Family Offices Increasingly Focus on Diversification and AI
