Rahman Ravelli Assesses Developments in Cum-Ex Investigations

With the Financial Conduct Authority (FCA) having brought its largest Cum-Ex-related enforcement action to date, Rahman Ravelli wrote about various countries’ response to the controversial share-selling practice.

In this piece, which was published by Thomson Reuters’ Regulatory Intelligence, Rahman Ravelli explain how Cum-Ex was carried out. They state that the £17.2 million penalty the FCA imposed on the now-dormant ED&F Man Capital Markets is an indicator of the impact that Cum-Ex continues to have, more than a decade after efforts began to tackle it.

Rahman Ravelli outline how the authorities that have closed the loopholes that allowed Cum-Ex to flourish are now looking to hold to account both the architects of the share-selling schemes and those who benefited from them. As Cum-Ex was so widespread, these efforts now involve many financial institutions as well as those who worked for them.

This, according to Rahman Ravelli, means that many organisations and individuals will need to examine closely their conduct in the years in question.

The full article can be read here.

Featured at: Thomson Reuters