UBS, the Swiss bank, is trying to strike a settlement with the US over alleged breaches by its offshore private-banking unit for rich Americans within the next fortnight, in time for its shareholders’ meeting on October 2.
Reaching a deal with the Department of Justice and the Securities and Exchange Commission on two separate but linked inquiries would let UBS portray its third shareholders’ meeting this year as a fresh start and burnish the reputation of Peter Kurer, its new chairman.
