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Banks under pressure (pixabay/geralt)
Compliance

Banks under pressure: Vontobel and Raiffeisen

28. Dezember 2016
Lesezeit: 1 min
Auch verfügbar in:
Of Counsel (AIA, CRS, FATCA)

Vontobel and Raiffeisen have been able to settle the dispute with the USA without being fined and can thus cross it off. At the end of 2013 the managements of both institutes had come to the conclusion that they had not violated US law in the previous years and had decided to join the banks in category 3. This decision proved to be right; Vontobel and Raiffeisen concluded the talks and negotiations concerning the their tax disputes with the US DoJ without having to pay a fine. The category 3 banks had to prove that they had not violated US law. Many category 1 and 2 banks were able to settle their dispute with the US DoJ last year.