A quick look at what’s been going on in Europe…

UBS has settled an Italian money laundering investigation by agreeing to pay the authorities EUR 2.125 million to close a criminal investigation into money laundering by its employees. The bank was alleged to have profited from tax evasion by its Italian customers.

A EUR 8.2 million confiscation order was also imposed. UBS has already paid EUR 101 million to settle the civil tax dispute related to its activities with Italian customers between 2012 and 2017.

The UK government review has found no evidence to support allega...