Author: Nicola Sharp 26 May 2020
The European Banking Authority (EBA) has said that while some European regulators are viewing dividend trading schemes as tax crimes – and an offence under the Fourth Money Laundering Directive - others are taking a different position.
According to the EBA, the differing national laws enable the perpetrators of such activity to function in the friendliest jurisdiction while having access to the whole EU market. This has clear implications for the investigation and prosecution of Cum-Ex trading.
Rahman Ravelli considered the challenges facing the EBA and member states and gave their thoughts on the situation to Thomson Reuters. In the resulting article, they explained that the problems that are caused by the current lack of certainty will remain until the EBA amends its regulatory guidance.
The article can be read here. (Subscription required).
Nicola is known for her fraud, civil recovery, arbitration and business crime expertise, her experience of leading the largest financial disputes and multinational investigations and her skills in devising preventative measures and conducting internal investigations for corporates.