FCA Investigating 8 People Over Cum-Ex Tax Fraud Scandal

Law360, London (March 31, 2021, 3:59 PM BST) -- Britain's financial markets watchdog is investigating eight individuals in connection with the cum-ex tax fraud scandal but has opened no new probes in the past year, a London law firm said on Wednesday.

The Financial Conduct Authority confirmed when responding to law firm Rahman Ravelli's freedom of information request that, as of February, eight individuals and 14 firms were under investigation for their alleged involvement in a dividend trading strategy that involves securities traders claiming multiple refunds for a tax that was only paid once.

Mark Steward, the FCA's director of enforcement and market oversight, said in February 2020 that the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!