Swiss Court Rejects Disclosure of Credit Suisse Client Data

Credit Suisse Group AG can’t disclose a client’s account data to U.S. tax authorities because a request for assistance last year addressed only tax evasion, which isn’t covered by a 1996 treaty, a Swiss court ruled.

The “search criteria” for the identification of bank clients “are formulated in terms encompassing above all mere tax evasion, for which administrative assistance cannot be granted,” the Federal Administrative Court said in a April 5 ruling published today.