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07 Apr 2009
International investment bank UBS has issued a ban on employees travelling overseas amid concerns they could be caught up in tax investigations.
The ban is thought to extend to 1,000 of its private bankers, according to telegraph.co.uk
The restriction applies to travel to and from the US, and within parts of Europe.
A spokesman for the bank said:' 'Given the international scope and the complex regulatory environment of UBS's international wealth management business.
Further Reading:
UBS chief urges reform of Swiss banking rules
UBS to fight US demand for bank account details in tax dispute
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