Rahman Ravelli says the FCA’s Cum-Ex investigations concluding is not the end of the matter

With the UK’s Financial Conduct Authority (FCA) ending its Cum-Ex investigations with an eighth and final penalty, Rahman Ravelli write about why the issue is far from over.

In an article published by Solicitors Journal, Rahman Ravelli gives the background to the Cum-Ex share-selling scandal and emphasises that its effects are still being felt in many countries.

Rahman Ravelli explains how Cum-Ex involved shares being traded in a way that disguised the identity of their owner so that more than one party could claim rebates on capital gains tax, leading to massive amounts being paid out by treasuries in numerous countries. The article details the ongoing efforts by countries to pinpoint where the money went and their attempts to claw it back.

Rahman Ravelli warns that there may still be many who were involved in Cum-Ex who need to look closely at their activities in those years - even if the authorities have not yet come knocking – and take appropriate advice on how to proceed.

The full article can be read here.

Featured at: Solicitors Journal