The major Swiss bank UBS is appealing a billion-dollar fine in a tax proceeding in France.
"The appeal was submitted within the statutory period of five days in order to protect the rights of UBS AG," said the institute on Monday.
"This allows UBS AG to analyze the judgment of the court of appeal in detail in order to determine how to proceed in the best interests of the stakeholders."
A French court of appeal had found the largest Swiss bank guilty of illegal monetary transactions and money laundering of income from tax fraud in a procedure that had been going on for several years and sentenced it to a payment of 1.8 billion euros. The sentence was thus noticeably lower than in a first judgment in 2019. At that time, another court had imposed a record fine totaling 4.5 billion euros.
In the current trial, the bank was found guilty of money laundering for tax fraud and illegal customer acquisition on December 13th in the second instance.
The case goes back to the years 2004 to 2012.
The public prosecutor's office has accused UBS of having sent employees to France at the time to attract wealthy clients.
They were encouraged to invest their money in Switzerland, bypassing the French tax authorities.
Overall, assets of more than ten billion euros are said to have been affected.
The institute had always denied the allegations.