Earlier this year, the Bonn Regional Court in Germany issued a landmark judgment against two former British traders in a cum-ex tax fraud case. Although issues relating to cum-ex first emerged some time ago, this, along with other developments, appears to mark the beginning of a new phase, with much more to come.
Criminal investigations against hundreds of individuals suspected of cum-ex fraud are pending, and further convictions are expected. Recent headlines suggest that cum-ex enforcement activity is on the rise and catching the attention of regulators across the globe. The increase in activity may lead to further investigations by new regulators including, potentially, in the US, and litigation.
Join Mayer Brown partners Chris Chapman, Kelly Kramer, Jan Kraayvanger and counsel Joydeep Sengupta for the first of our sessions focussing on key cum-ex-related issues impacting our clients.
The session will outline how cum-ex transactions work, recent developments in Germany, the resulting increased activity that may mean there are tax and other investigations, and follow-on litigation. It will provide practical guidance on investigating a cum-ex exposure or, if you have already investigated, why you might prepare for a second wave of activity. The European Banking Authority’s response to cum-ex exposure and potential risks in other European jurisdictions outside Germany will also be covered in this session.
If you have any questions about this event please email the London Events team at LON-Events@mayerbrown.com.