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UBS shareholders refuse to endorse performance

In a surprising move, the shareholders of UBS group decided not to endorse the annual performance of the bank.

As per reported information the action was linked to the conviction that the bank suffered in France for helping clients to avoid taxes.

The bank has been under scrutiny after French authorities found it guilty of assisting clients to avoid taxes and launder the proceeds of such avoidance.

Source

https://www.reuters.com/article/us-ubs-group-agm/shareholders-snub-ubs-leadership-over-french-tax-conviction-idUSKCN1S80RT

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Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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