A newly issued legal opinion 'does not exclude' spot forex transactions from the planned transaction tax. Reuters reports that EU lawyers have requested and received a legal opinion that taxing spot forex transaction does not conflict with the EU's commitment to the free movement of capital. Attempts to introduce a global or pan-EU transactions tax…
Read moreAnother opportunity for the UK to solidify its position as the European financial center As a coalition of 11 Euro Zone member countries is struggling to introduce a new levy on financial products transactions and it is becoming increasingly clear that the division on the issue is more widespread than originally thought. While The Netherlands, UK, Sweden…
Read moreLobby group GFMA has been actively fighting a Europe-wide financial transaction tax. The Global FX Division of financial sector lobby group Global Financial Markets Association (or GFMA) has hired Andrew Harvey as Managing Director, Europe. This represents a very senior hire for GFMA -- Harvey joins from Morgan Stanley where he was COO of Derivatives Operations.…
Read moreEuropean governments likely to drastically cut the Financial Transactions Tax and delay its full rollout. As first reported by CFTCLaw.com.... Reuters is indicating that European countries placing a tax on financial transactions are set to drastically scale back the tax by as much as 90%, to just 0.01% of the value of a trade, from 0.1% in…
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