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FCA Fines ED&F Man £17M for Clients’ Dividend Arbitrage Trading

FCA Fines ED&F Man £17M for Clients’ Dividend Arbitrage Trading
The Financial Conduct Authority (FCA)has hit ED&F Man Capital Markets with a fine of £17.2 million for enabling its clients to gain £20 million in illegal tax reclaims through cum-ex or dividend arbitrage trading. The UK financial regulator disclosed the fine on Monday, noting that the trading and investment services firm made about £5.06 million in fees from the tax fraud.FCA Slams ED&F Man for ‘Serious Failings’Cum-ex trading is a type of financial fraud in which loopholes in dividend tax laws... Read More
Posted: Jun 5 2023, 14:17
Author Name: financemagnates
Views: 092015

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