EU banking watchdog to crack down on 'cum-ex' trading schemes
Share:
LONDON (Reuters) - The European Union's banking watchdog has proposed an action plan to crack down on so-called cum ex trading schemes that could pose a threat to financial markets and national budgets.These schemes have been a focus in Germany, with the country estimating that they have cost the state more than 5 billion euros (4.39 billion pounds) in lost tax revenue.