![]() Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Shares of UBS have steadily recovered, but are still down 1.7% since Wednesday’s report.ĬNN’s Hanna Ziady contributed to this report. You no longer need to submit withholding tax certificates as e-withholding tax information can be verified and related documents can be. Withholding tax and supporting information can be submitted immediately via Bangkok Bank’s online system. The Swiss Stock Exchange temporarily stopped trading on the stock, which had fallen as much as 8% before it was suspended. e-Withholding Tax is available on BIZ iBanking via SMART only. UBS shares plummeted on the news Wednesday morning. Part of that has been the laundering of dirty money in Switzerland.” And we have seen the Russian economy surviving better than we thought it would. ![]() “Those sanctions are only as effective as we are able to make sure that they are enforced. Ben Cardin, a Democrat from Maryland and co-chair of the commission, said at the hearing. “Part of our strategy in winning the war for Ukraine, is to isolate and put sanctions on Russia,” Sen. The commission, also known as the US Helsinki Commission, had called the July hearing over questions involving sanctions evasion and money laundering as Russia continues its attack on Ukraine. Drew Sullivan, co-founder of the Organized Crime and Corruption Reporting Project, told the Commission on Security and Cooperation in Europe in July he thinks “the often-mentioned figure of $200 billion in Russian money in Swiss banks is a gross underestimation.” The Swiss Bankers Association, a group of the country’s financial institutions, estimated in July more than $200 billion in Russian money has been stashed in Swiss banks. The bank’s reaction comes on the heels of a Bloomberg report, which cited anonymous people familiar with the matter and asserted the Justice Department had briefed lawyers for UBS ( UBS) about Credit Suisse’s alleged involvement in sanctions violations.ĬNN reached out to the Justice Department for comment but has not received a response. “UBS and CS have significantly and proactively reduced their Russia-related exposure.”Īccording to a person familiar with the matter, UBS has been in touch with the DOJ regarding the reported probe. We’re not aware of such a probe,” UBS told CNN in a statement. “The recent reporting on an alleged probe by the US Department of Justice into sanctions-related compliance failures at Credit Suisse and UBS is inaccurate. Swiss multinational investment bank UBS says it is not aware of a probe by the US Department of Justice into suspected compliance-related missteps by its subsidiary Credit Suisse that reportedly allowed Russian clients to skirt sanctions.
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