UBS to Review Options After Court Cuts Tax Fine to $2 Billion
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UBS Group AG said it will review its options, including appeal, after a French judge cut by more than half a 4.5 billion-euro ($5.1 billion) penalty that the bank had received for helping wealthy French clients stash undeclared funds in Swiss accounts.
The Zurich-based lender said it took note of the French court’s ruling and “will review the decision and consider all options, including appeal,” according to an emailed statement on Monday.