Union Bancaire Privée (UBP), a Swiss private bank, must pay an additional $14 million to the U.S. government for accounts it failed to disclose, in an addendum to a non-prosecution agreement reached with the Department of Justice four years ago.

UBP signed the original non-prosecution agreement (NPA) on Jan. 6, 2016. At that time, UBP reported it held and managed 2,919 U.S.-related accounts, with assets under management of approximately $5 billion, and paid a penalty of $187.8 million.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...