Swiss banks are stocks to watch on Wednesday (UBS, CS)

Posted in General 
July 1st, 2009

UBS shares (NYSE: UBS) shares are ones to watch Wednesday, as hope of a settlement in a suit that seeks to make the company identify potential U.S. tax evaders with Swiss accounts appears to be fading.

The Justice Department said in a Florida court brief that it will seek to enforce tax compliance with the “full weight’ of the law.

In related news this morning, rival Swiss bank Credit Suisse (NYSE: CS) said it will provide  names of clients holding French securities to French authorities, to comply with a treaty signed earlier this month between France and Switzerland. — Mike Tarsala

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