German Cum-Ex Prosecutions Could Reach London Enablers
By Alex Davidson (August 3, 2022, 11:50 AM BST) -- German authorities are ramping up criminal and civil actions against banks and investment advisers who profited from dividend stripping schemes after the country's highest court said the practice was illegal, a ruling lawyers and prosecutors say could soon reverberate in London.
Lawyers say that German prosecutors do not need cooperation of British authorities such as HMRC to bring actions against traders on principle. (In Pictures Ltd./Corbis via Getty Images) The door for further prosecutions opened after Germany's Federal Court of Justice upheld a landmark judgment, finding that an unidentified banker at Hamburg-based M.M. Warburg & Co. was guilty of crimes linked...
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