France’s top court struck down a fine of 1.8 billion euros (U.S. $2 billion) imposed on UBS in 2021 by a lower court, despite upholding a guilty verdict related to money laundering and tax fraud in the Swiss bank’s cross-border activities.

Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...