RISE IN CUM-EX INVESTIGATIONS ACROSS EUROPE: CUM-EX TRADES EXPLAINED

On 30 November, a blog post from Kingsley Napley says that in recent years, Cum-Ex trading has gained notoriety following large scale regulatory, civil and criminal investigations spanning several European countries.  It explains that Cum-Ex trading is the description given to a method of rapid trading of securities around the dividend record date, which allows more than one tax rebate to be claimed in respect of the same dividend payment. The value is therefore generated at a cost to the relevant tax authority, which pays out rebates in excess of the tax received.  The article says that the last few months have seen an increase in law enforcement and regulator activity across Europe as these investigations reach maturity. It seems certain that focus is likely to remain on this complex form of trading for some time to come.

https://www.kingsleynapley.co.uk/insights/blogs/criminal-law-blog/rise-in-cum-ex-investigations-across-europe-cum-ex-trades-explained#page=1

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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