Within the framework of the US program in which it participated voluntarily, Banca dello Stato del Cantone Ticino has reached a non-prosecution agreement with the US Department of Justice. The bank agreed to pay USD 3.39 million and to further cooperate with US authorities. In return, the US Department of Justice will abstain from criminal prosecution.

Bär & Karrer advised Banca dello Stato del Cantone Ticino together with the US law firm Caplin & Drysdale. The team included Paolo Bottini and Matthias Bizzarro.