In a note after its third-quarter financial statement last week, UBS said tax and regulatory authorities in a number of jurisdictions wanted information about offshore services offered by it and other Swiss and non-Swiss financial institutions.

"UBS is cooperating with these information requests strictly within the limits of financial privacy obligations under Swiss law," the bank said. "It is premature to speculate on the outcome of any such inquiries."

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The US investigation into how UBS helped rich Americans hide money in Switzerland has hurt the bank's reputation and prompted offshore customers to withdraw assets, with the bank reporting last week that third-quarter net outflows totalled 36.6 billion Swiss francs (HK$278.79 billion).

British and Australian tax authorities confirmed probes had started, Swiss newspaper Sonntag reported yesterday. Officials refused to provide details, it said, but Swiss authorities would on November 17 reveal the criteria determining which client data is handed to the US authorities. REUTERS