I’m not happy about the verdict, it is the rule of law is unworthy. But I have expected this result. The courts and authorities showed applications for the last ten years, a more generous attitude towards Data. The verdict is a logical development.

This shows that the AIA and the principle of transparency about tax is arrived data to the authorities in the judges. In the last years also increasingly stolen Bank data were used as evidence.

The ruling will have a significant impact on the Swiss financial centre. All banks with foreign customers, also the former, will have to reckon with numerous assistance requests. The positive thing about the ruling is that it now establishes what type of data are allowed to requests for mutual assistance. Ten years ago, this application of the French would be evaluated, however, as the catch of fish and, therefore, rejected.

The ruling not only opens the gates for more fish trains. I am afraid that the past is rolled up coping new. This is not only for the banks uncomfortable, but also for previous international customers. With the judgment, the former assurance of Bank secrecy is undermined to the customers reverse.

But. It is possible that many French UBS customers whose data will now be delivered to France, are not a Criminal and everything is correctly reported. Now this customer is made but, nevertheless, the procedure, and you need a lawyer. This is very uncomfortable.

The risk that the French will have the data in the current proceedings against the UBS incorporated, is relatively large. Perhaps the French Prosecutor’s office uses it even formally. At a Minimum, I assume that the news of the French media to be plugged in. This, in turn, would damage the reputation of UBS in France and the court of appeals affect when it decides on the recourse of UBS against the 5.8 billion Swiss francs, buses and claim for damages.