The U.S. Department of Justice has a letter from May 2006 revealing that senior executives at UBS knew some of their U.S.-focused bankers were risking breaches of American securities laws long before any investigation began. A whistle-blower brought up the legal issues, but the tax-evasion allegations being investigated were not mentioned. UBS said its executives investigated the whistle-blower's information, tightened procedures, and made sure the procedures were implemented and observed.

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