Swiss Banking Secrecy rule deal setback in month to forget

Bloomberg: Swiss tax authorities announced they’d shared details on 2 million accounts with other countries for the first time as part of rules on information exchanges introduced last year. Then last week Switzerland’s Supreme Court said a former Julius Baer Group Ltd. executive Rudolf Elmer didn’t break secrecy rules, ruling Swiss law didn’t apply at the Cayman Islands unit where he worked.

Link to Bloomberg