Skadden Completes 10 Settlements in Swiss Bank Program

Skadden was at the forefront of steering foreign financial institutions through the U.S. Department of Justice's Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks (the Program), which was announced by U.S. and Swiss authorities in the summer of 2013. The firm successfully guided 10 of the 80 participating banks through the requirements of the Program in 2015.

A cross-border team of Skadden attorneys — including from our Washington, D.C., New York, London, Frankfurt and Munich offices — advised 10 Swiss banks on numerous complex and novel legal issues presented in the U.S. and Switzerland over the course of the first-of-its-kind program. We achieved nonprosecution agreements on behalf of all our clients — each of which participated as a "Category 2" bank under the terms of the Program.