UBS AG and the Swiss and U.S. governments have finalized a settlement in a tax-evasion investigation that will allow UBS clients to appeal to a Swiss tribunal before their account information is handed to U.S. tax collectors, according to a person familiar with the situation.

The parties didn't disclose the settlement details in a call Wednesday before a federal judge. It is likely that the settlement will be filed with the U.S. federal court in Miami over the next week.