UBS 'transparency' report rejects litigation option

14th October 2010, Comments 0 comments

A report commissioned by UBS details reasons why Switzerlands largest bank lost more money than any other European bank from the US subprime mortgage crisis in 2008. The report also highlights a corporate culture that failed to tackle violations by employees that allowed tax fraud in the US, but it says legal action against past executives is not in the company's interest.

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