Wegelin case highlights private banking changes

A new era of increased regulation and stringent tax rules is weighing on the Swiss private banking industry and is poised to spur further mergers and acquisitions

A new era of increased regulation and stringent tax rules is weighing on the Swiss private banking industry and poised to spur further mergers and acquisitions.

Wegelin & Co's Friday announcement that it will close after admitting that it helped Americans avoid taxes by hiding assets in overseas accounts marks the latest blow to an industry reeling from a string of regulatory changes.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached