ZURICH (Reuters) - Switzerland’s tax authority may provide administrative assistance to France in a case involving the French subsidiary of UBS (UBSG.S), the Swiss federal supreme court has ruled, newswire SDA reported on Monday.
The Lausanne-based court found the misconduct alleged by French authorities would also be punishable in Switzerland and thus overturned a lower court ruling on the matter.
In March 2015, the French unit of UBS was placed under formal investigation and paid bail worth 10 million euros (8.76 million pounds).
($1 = 0.9371 euros)
Reporting by Joshua Franklin; Editing by Michael Shields