Swiss Banks an Italian Target After Record UBS French Fine
- Guardia di Finanza demands data on bankers operating in Italy
- Swiss banks asked for details on extent of Italian operations
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Italian financial police are demanding Swiss lenders disclose the names of bankers working in Italy, setting up a potential clash with regulators after UBS Group AG was hit with a record fine by French authorities.
The Guardia di Finanza has sent a letter to Swiss lenders asking for a list of all their Italian units, data on local relationship managers, as well as an explanation of how Italian clients’ assets are managed. The questionnaire, seen by Bloomberg, doesn’t specify which banks it has been sent to.