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  1. Wealth
June 10, 2010

WSJ: UBS says Swiss parly to pass US deal

By Spear's

ZURICH (Dow Jones)–UBS AG’s (UBS) financial head Wednesday said Swiss parliament is likely to ultimately pass a U.S.-Swiss pact allowing the handover of 4,450 sets of confidential client data from the Swiss bank, according to a London-based analyst for a brokerage firm.

ZURICH (Dow Jones)–UBS AG’s (UBS) financial head Wednesday said Swiss parliament is likely to ultimately pass a U.S.-Swiss pact allowing the handover of 4,450 sets of confidential client data from the Swiss bank, according to a London-based analyst for a brokerage firm.

UBS’s Chief Financial Officer John Cryan made the comments during a meeting with roughly 30 sell-side analysts in London earlier Wednesday, the analyst said, who was at the meeting.

UBS’s settlement with U.S. officials over the client data was sent back to Switzerland’s Upper House Wednesday, as the two houses sought to hammer out their differences.

To read the full story, visit wsj.com

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