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UBS AG: Release according to Article 50 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution 15.11.2023, 18:00 Uhr von EQS News Jetzt kommentieren: 0

EQS Post-admission Duties announcement: UBS AG / Third country release according to Article 50 Para. 1, No. 2 of the WpHG [the German Securities Trading Act]
UBS AG: Release according to Article 50 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

15.11.2023 / 18:00 CET/CEST
Dissemination of a Post-admission Duties announcement according to Article 50 Para. 1, No. 2 WpHG transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


15 November 2023
Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing RulesNews Release
French Supreme Court refers UBS legacy matter to Appeals Court
 

Zurich, 15 November 2023 – The French Supreme Court issued a judgement today on a legacy matter related to UBS’s cross-border business activities in France between 2004 and 2012.

 

The Supreme Court upheld the previous court decision regarding unlawful client solicitation and aggravated laundering of the proceeds of tax fraud, while overturning the confiscation of EUR 1bn, the fine of EUR 3.75m and EUR 800m in civil damages awarded to the French state. The case is now being referred back to the Paris Court of Appeal, which will reconsider the overturned elements and deliver its judgement after a new trial.

 

While UBS is pleased that the highest court in France agrees with its position on these important aspects of the legal case, UBS is disappointed that the French Supreme Court has confirmed the previous court decision regarding unlawful client solicitation and aggravated laundering of the proceeds of tax fraud despite the treaty between Europe and Switzerland on the taxation of savings income and a lack of specific evidence for the alleged facts. UBS continues to maintain that it acted in accordance with all applicable laws and regulations at all times. UBS will defend itself in the forthcoming trial.

 

UBS Group AG

Investor Relations:

Switzerland: +41-44-234 41 00

 

Media Relations:

Switzerland: +41-44-234 85 00

UK: +44-207-567 47 14

Americas: +1-212-882 58 58

APAC: +852-297-1 82 00

 
www.ubs.com/media
 

 

Disclaimer
This document contains statements that constitute “forward-looking statements.” While these forward-looking statements represent UBS’s judgments and expectations concerning the matters described, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from UBS’s expectations. For a discussion of the risks and uncertainties that may affect UBS’s future results please refer to the “Risk Factors” and other sections of UBS’s most recent Annual Report on Form 20-F, risk factors filed by UBS Group AG with the SEC on 31 August 2023 in Form 6-K, quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission on Form 6-K. UBS’s Annual Report on Form 20-F, quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission on Form 6-K are also available at the SEC’s website: www.sec.gov.



15.11.2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: UBS AG
Bahnhofstrasse 45
8098 Zurich
Switzerland
Internet: www.ubs.com

 
End of News EQS News Service

1774527  15.11.2023 CET/CEST

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