Home > Finance > UBS agrees to almost $1-billion payment to resolve French tax case
Finance

UBS agrees to almost $1-billion payment to resolve French tax case

Published by Global Banking and Finance Review

Posted on September 23, 2025

Featured image for article about Finance

BERLIN (Reuters) -Switzerland's UBS has agreed to pay almost a billion dollars to resolve a legal case concerning its cross-border business activities in France between 2004 and 2012, the bank said on Tuesday.

As part of the resolution, UBS will pay a fine of 730 million euros ($860.45 million) plus 105 million euros in civil damages to the French state, it said in a statement.

In 2023, the French Supreme Court confirmed a Paris appeals court's decision finding UBS guilty of unlawful client solicitation and aggravated money laundering and referred the financial penalty and civil damages to be re-assessed by the lower court.

($1 = 0.8484 euros)

(Writing by Rachel More, Editing by Friederike Heine)

Related Posts
Tesla shares jump as Musk confirms driverless robotaxi testing
Tesla shares jump as Musk confirms driverless robotaxi testing
Italy's competition authority drops probe into Eni's Plenitude unit
Italy's competition authority drops probe into Eni's Plenitude unit
Bridgewater warns Big Tech's reliance on external capital to fund AI boom is 'dangerous'
Bridgewater warns Big Tech's reliance on external capital to fund AI boom is 'dangerous'
Italian firms using AI double in a year but still small minority
Italian firms using AI double in a year but still small minority
Juventus shares soar 19% after Agnelli family rejects crypto firm Tether's bid
Juventus shares soar 19% after Agnelli family rejects crypto firm Tether's bid
London stocks climb as BoE rate cut looms
London stocks climb as BoE rate cut looms
Exclusive-U.S. Treasury rejects Xtellus-led bid for Lukoil assets, sources say
Exclusive-U.S. Treasury rejects Xtellus-led bid for Lukoil assets, sources say
UBS parts with chief tech officer, promises 'smooth' integration process
UBS parts with chief tech officer, promises 'smooth' integration process
Serbia's prosecutor files to indict minister in connection with Kushner project
Serbia's prosecutor files to indict minister in connection with Kushner project
Italy's Caltagirone group strengthens governance procedure over Generali, MPS stakes
Italy's Caltagirone group strengthens governance procedure over Generali, MPS stakes
European drone wall, other 'flagship' defence projects at risk in EU power struggle
European drone wall, other 'flagship' defence projects at risk in EU power struggle
Airbus delivered about 30 jets in first-half December, sources say
Airbus delivered about 30 jets in first-half December, sources say
;