UBS Lawyer Schmid Takes Job at Swiss Law Firm
Notable Attorneys
Bernhard Schmid, the head of UBS AG’s legal department, left Switzerland’s biggest bank by assets to become a partner at a Zurich law firm founded by a former banker.
Schmid joined Kuoni Attorneys at Law on Feb. 1 to help the company increase its work advising banks, founding partner Wolfram Kuoni said by telephone yesterday. Schmid, who is Swiss, was one of three lawyers to share former General Counsel Peter Kurer’s workload when Kurer became chairman of the bank in 2008.
UBS paid a $780 million fine and disclosed the names of 255 account holders in February 2009 to avoid criminal prosecution in the U.S. on a charge that it helped thousands of wealthy Americans evade taxes. The bank hired Markus Diethelm from Swiss Reinsurance Co. to replace Kurer as general counsel in 2008.
Schmid is “wonderful for a firm like mine to tap into the banking market. He has an outstanding track-record,” Kuoni said in a telephone interview yesterday, adding that he wants to expand the practice’s work advising banks “one tier below” UBS and Credit Suisse Group AG, Switzerland’s biggest bank by market value.
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USCIS Adjusting Premium Processing Fee
U.S. Citizenship and Immigration Services (USCIS) announced today it is adjusting the premium processing fee for Form I-129, Petition for a Nonimmigrant Worker and Form I-140, Immigrant Petition for Alien Workers beginning on Oct. 1, 2018 to more effectively adjudicate petitions and maintain effective service to petitioners.
The premium processing fee will increase to $1,410, a 14.92 percent increase (after rounding) from the current fee of $1,225. This increase, which is done in accordance with the Immigration and Nationality Act, represents the percentage change in inflation since the fee was last increased in 2010 based on the Consumer Price Index for all Urban Consumers.
“Because premium processing fees have not been adjusted since 2010, our ability to improve the adjudications and service processes for all petitioners has been hindered as we’ve experienced significantly higher demand for immigration benefits. Ultimately, adjusting the premium processing fee will allow us to continue making necessary investments in staff and technology to administer various immigration benefit requests more effectively and efficiently,” said Chief Financial Officer Joseph Moore. “USCIS will continue adjudicating all petitions on a case-by-case basis to determine if they meet all standards required under applicable law, policies, and regulations.”
Premium processing is an optional service that is currently authorized for certain petitioners filing Forms I-129 or I-140. The system allows petitioners to request 15-day processing of certain employment-based immigration benefit requests if they pay an extra fee. The premium processing fee is paid in addition to the base filing fee and any other applicable fees, which cannot be waived.