Goldman Sachs, Morgan Stanley Swiss Units Seek Tax Deals
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The Swiss units of Goldman Sachs Group Inc. and Morgan Stanley are among 106 banks seeking U.S. non-prosecution agreements after saying they had reason to believe they helped Americans violate tax laws, according to three people familiar with the banks’ actions.
Both Goldman Sachs and Morgan Stanley applied to a Justice Department program that requires banks to disclose how they helped Americans hide assets, hand over data on undeclared accounts and pay penalties, according to the people who asked not to be identified because they weren’t authorized to discuss the matter publicly.