Banking confidentiality has lost legitimacy: Outgoing UBS Chief

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Banking confidentiality has lost legitimacy: Outgoing UBS Chief By TII News Service May 14, 2012 , Geneva
THE outgoing UBS bank chief has said that Switzerland must give up its role as a tax haven for tax evaders and bring all disputes withe foreign tax authorities to an end. He said that the financial market cannot be involved in tax crimes, and banking confidentiality has lost its legitimacy in today's globalised market conditions.

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