Business

UBS pledges to appeal against ruling in French tax case

UBS pledges to appeal against ruling in French tax case
FILE PHOTO: The offices of Swiss bank UBS are seen in the financial district of the City of London. Photo: Reuters
Published: 11:25 PM, October 10, 2017

ZURICH - UBS <UBSG.S> pledged on Tuesday to appeal against a French ruling not to let it intervene in proceedings against a former employee in a long-running case where the Swiss bank has been accused of helping wealthy clients avoid paying taxes. ‍​

"We (UBS France SA) take note of the decision of the Investigation Chamber to not admit the bank as a 'partie civile' in the guilty plea proceedings against one of our former employees," UBS said in an email. "We will appeal this decision." REUTERS