Another Historic Swiss Bank Under US Tax Spotlight.

The Zurich-based bank, set up as a silk trader in 1750, has come under investigation despite a recent Swiss-U.S. deal to allow some Swiss banks to pay fines to avoid or defer prosecution over tax evasion by their U.S. customers. That deal was a step forward in a long-running U.S. drive to pierce the shroud of Swiss bank secrecy and applies to about 100 second-tier Swiss banks, which could have to disclose information and face penalties of up to 50 percent of assets they managed on behalf of wealthy Americans.

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