A head of a Swiss financial institution told the Sonntags Zeistung that the Swiss banks were requested by the DoJ to filter clients that would qualify under the treaty request amongst the data handed over to the US and prepare thorough files. This was consider as a further request to the US Program.
A lot of Category 2 banks have already delivered names of employees linked to US-related accounts. The newspaper considers mid-September as the deadline to hand over names while the US Program states the deadline as ‘upon execution’ of a non-prosecution agreement.
Denise Chervet, the director of the association of the banking employee (ASEB), believes that most employees did not object to their name being transmitted because the employees believe that the US are already aware of their names through, for example, their clients. Douglas Hornung thinks that the though job environment is another reason not to upset the employers.
The US also showed interest in minor advisers with only 1 US-related client.
The head of a retail bank announces that his bank is negotiating whether to hand over employee names linked to accounts with only a few thousand CHF.
Banks continue to negotiate with the DoJ on the fine calculation and the wording of their admittance of wrongdoing.
Banks also try to clarify with the DoJ whether the residency situation of the holder of US-related accounts would make a difference.
All those negotiation points might just lengthen the process as the interface actors at the DoJ need to refer to their superiors.