Cum-Ex Trading Experts

The Cum-Ex trading scheme concerns allegations of duplicated dividend tax rebates from various European tax authorities.

Prosecutors in Germany, Denmark and other European countries have been leading investigations into Cum-Ex with individuals facing charges in court proceedings. The impact of the alleged tax fraud trading scheme is reported to involve sums totaling billions of euros and already extends to Germany, Denmark, Austria, Belgium, France, Spain, Italy, the Netherlands, Finland, Norway and Switzerland.

Involvement spans multiple global institutions, and includes a wide variety of participants and roles (traders, prime brokers, investment managers, interdealer brokers, custody agents, clearing banks).

FMCR is an industry-recognised equity dividend arbitrage expert and is currently undertaking multi-faceted investigations into high profile potentially irregular activities in multiple European markets. In addition to forensic investigations, FMCR has undertaken market abuse analysis, internal control assessments and presented at senior and C-suite levels on both apparent Cum-Ex and Cum-Cum trading activities.