UBS

The FSA has fined and banned a former UBS employee for helping cover-up unauthorised trading losses.

Royal Bank of Scotland (RBS) and Lloyds have both agreed to defer bonuses in return for an additional £40bn of taxpayers' money as part of a deal with the Government that will break up two of Britain's biggest lenders.

Nervous Americans scattered across the world are hurrying to tax advisers and lawyers ahead of the IRS' offshore amnesty deadline, according to reports.

Harlequins' owners and senior management face a testing period as they attempt to hang on to their jobs and balance the club's books in the wake of the Bloodgate scandal.

A former UBS banker has been sentenced to 40 months imprisonment after pleading guilty to conspiring to defraud the US.

The US has punctured Switzerland's secrecy law shielding US citizens with cash stashed in the offshore centre, forcing the Swiss authorities to reveal the names of nearly 5,000 wealthy Americans with accounts in UBS.

Swiss bank UBS has posted a loss of 1.4bn Swiss francs (SFr) in Q2 as it battled to shrug off the impact of investments in the US mortgage market.

A New York toy salesman pleaded guilty to filing a false tax return that concealed assets at UBS AG, and he implicated four other people while detailing the bribery of a Swiss government official.

UK Financial Instruments (UKFI), the body that manages the Government's shares in some of Britain's biggest banks, will today outline its plans for the future of its investments in the state-owned lenders, reports The Times.

Investors bet on Thursday the United States would not go as far as shutting down UBS in a dispute over tax, instead expecting the Swiss bank to be hit by a hefty fine as part of a swift out-of-court settlement, Reuters reports.