It’s Not Just the Swiss
PUBLISHED ON: 09/01/2014
Corporate Counsel recently published an article written by Justin S. Weddle, a Partner in the Firm's White Collar Defense & Government Investigations department. The article, titled "It's Not Just the Swiss," discusses the U.S. Department of Justice's pressure on Swiss banks over the years and the need for non-Swiss banks to begin preparing their responses as well.
From the Article
"Financial institutions outside Switzerland may be tempted to think that the U.S. Department of Justice's focus and pressure on Swiss banks in recent years leaves them in the clear. And, indeed, the DOJ has had great success in targeting these institutions far from U.S. shores. It has levied monetary penalties exceeding $3.3 billion to resolve criminal charges against two big Swiss banks, and has created a voluntary disclosure program that has so far attracted participation from more than 100."
Read the full article here.