(September 14, 2015)

On September 14, 2015 the Swiss Federal Department of Finance issued a press release via which it informs the public that on September 14, 2015 on the fringes of the 20th Annual Conference of the International Association of Prosecutors in Zurich Swiss Federal Councillor Widmer-Schlumpf met US Attorney General Loretta Lynch for bilateral talks on the implementation of the US programme for settling the tax dispute with Swiss banks.

According to the press release under this US programme from 2013, Swiss banks that have to assume they violated US law can enter into a so-called Non-Prosecution Agreement with the US Department of Justice.

The press release furthermore states that the talks between the two ministers addressed the issue of equal treatment of all banks with regard to determining fines and the required evidence of client asset taxation. The intention of concluding all Non-Prosecution Agreements with category 2 banks by the end of this year was also discussed. According to the press release in this regard, it is important for Switzerland that each bank is granted fair and transparent negotiations. Furthermore it is stated that the treatment of employee data under the programme was likewise discussed.

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