Ad hoc announcement in accordance with Article 53 of the SIX Exchange Regulation Listing Rules:
The French Supreme Court has upheld the ruling on unlawful client solicitation and aggravated laundering of tax fraud proceeds. However, it overturned the confiscation of EUR 1bn, a EUR 3.75m fine, and EUR 800m in civil damages awarded to the French state. The case is now sent back to the Paris Court of Appeal for reconsideration of these elements, with a new trial expected.
UBS is pleased with the Supreme Court’s alignment with its position on key legal aspects but disappointed about the upheld decision on client solicitation and laundering. Despite the EU-Switzerland savings income taxation treaty and a lack of specific evidence, UBS maintains it complied with all applicable laws. The bank will defend itself in the upcoming trial.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}