UBS launches defence in US senate

UBS chief financial officer Mark Burgess has formally launched a defence of his bank's decision to fight a civil action brought against it by the US tax authorities through a John Doe summons.

The US wants to secure the identity of 52,000 client accounts on top of the names UBS agreed to hand over following a $780m settlement of criminal action relating to their alleged tax evasion.

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Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump