Closed and 3000 the number you have just mentioned are still with us. So what is the total number of accounts that we no longer have of the 22,000 . The 18,000 number you mentioned. And if i may add mr. Chairman, we had a Large Population of u. S. Resident clients. I would say 11,000 i believe that had account balances below 1 Million Dollars under Asset Management and they were not even given the option to stay because to move to one of our fully u. S. License broker dealers you needed 1 million is the minimum balance. 18,000 of these did not have the opportunity to prove tax compliance. Mr. Cerutti your u. S. Policy required that swiss accounts open for u. S. Residents be concentrated in a single swiss office we talked about the sla in. Is that correct . It required that it be concentrated. In saln and the other office near the airport those were the 12 that were later merged in 2009. All right and the point was that office was supposed to have a Relationship Managers they got specia
I have to agree with the deputy general, i dont know what i dont know which 106 out of how many . Someone over 300. The third, i would hope that it is true that not every swiss bank engaged in this kind of conduct. So i think about onethird was a remarkable response to the program. Yours in the department of justice has made no explanation whatsoever . We really dont measure . Were at the atc been finalized i believe that narrative glosses over the years of widespread misconduct across the bank. They asserted that they would have turned over the name of account holders but they were prevented from doing so by swiss bank. Secrecy laws. However it appears that fa tc loopholes in the 2009 protocol wont permit u. S. Authorities to give names for accounts close before 2009. This means its highly unlikely the United States will be able to collect much of the loss tax revenues from aliens hidden overseas. I dont buy their narrative. The American People shouldnt darsha the department of justic
More institutions than expected will tell how they helped American clients hide their assets UPDATED : Monday, 27 January, 2014, 6:14am Bloomberg in New Jersey Third of Swiss banks seek US tax amnesty The top US tax prosecutor says 106 Swiss banks are seeking US amnesty for helping American clients evade taxes. US prosecutors gave…
National association of tax lawyers urges Supreme Court to overturn Ninth Circuit decision unduly restricting the availability of attorney-client privilege.