Skip to Main Content
 

The Wall Street Journal Quotes Scott Michel on the DOJ Bank Program and Implications for Global Financial Community

May 27, 2014, The Wall Street Journal

The Wall Street Journal spoke with Scott D. Michel concerning the U.S. government's Program for Swiss Banks and its broadened global chase for money hidden in Swiss accounts by U.S. citizens.  Prosecutors are now tracing records to Singapore, the Cook Islands and elsewhere as U.S. authorities increase the pressure on Swiss institutions to turn over evidence, according to officials.  For more on the story, please visit The Wall Street Journal's website.

Excerpt taken from the article.

Scott Michel, a lawyer who advises clients on these issues, said sticking to the deadline for about 100 Swiss banks to discuss the issue with their American clients, then present a potentially large volume of records in about five weeks would be "almost physically impossible.''

The Justice Department, the lawyer said, "is sending a less-than-subtle message to banks around the world, that if you have a problem, you should come see us now, rather than wait for them to put together the puzzle pieces and come to them.''

________________________________________________

About Caplin & Drysdale
Having celebrated our 50th Anniversary in 2014, Caplin & Drysdale continues to be a leading provider of legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills -- combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment -- make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:
For more information, please visit us at www.caplindrysdale.com.
Washington, DC Office:
One Thomas Circle NW
Suite 1100
Washington, DC 20005
202.862.5000
New York, NY Office:
600 Lexington Avenue
21st Floor
New York, NY 10022
212.379.6000

___________________________

Disclaimer
This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
© 2019 Caplin & Drysdale, Chartered
All Rights Reserved.