Tue, Sep 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Dutch participants think the financial transaction tax is a political statement

Friday, March 15, 2013

amb
Patrick van de Laar
Benedicte Gravrand, Opalesque Geneva:

In January, The European Commission, the EU's executive arm, gave its accord to 11 member countries to go ahead with a planned Financial Transaction tax (FTT). The countries in question are Germany, France, Spain, Italy, Belgium, Estonia, Greece, Austria, Portugal, Slovenia and Slovakia. The proposal for an FTT was originally adopted by the European Commission in September 2011 but stalled due to an initial lack of support. Plans for the implementation of the FTT were outlined last month and follows the original plan, namely a 0.1% tax on trades in stocks and bonds and a 0.01% tax on derivative transactions. The proposal has to be unanimously approved by all 11 countries by September 30, 2013.

If it is, the FTT should become law in the 11 states from January 1, 2014. According to The FT, "widespread objections from many other countries, together with threats of lawsuits from financial institutions, may delay the pace and dilute the form of implementation. But there seems an urgent determination to proceed. Reducing the territoriality of the tax, narrowing the range of transactions covered and exempting some institutions such as pension funds are just some of th......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  2. Activist News - Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping, Meet Europe's best activist investor[more]

    Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping From Businessinsider.com: Carl Icahn has picked his next target: Freeport-McMoRan. Icahn and a group of other investors have snapped up an 8.46% stake in mining company Freeport-McMoRan, according to a j

  3. North America - Hedge fund manager Ray Dalio’s challenge to the Fed[more]

    From Newyorker.com: For some reason, Janet Yellen, the chair of the Federal Reserve, decided to skip this year’s annual Fed conference in Jackson Hole, where monetary policymakers from the United States and abroad get together with some prominent academics to discuss the big issues of the moment. Th

  4. Opalesque Exclusive: Credit-focused hedge fund Numen Capital expects more volatility in Europe in coming months[more]

    Benedicte Gravrand, Opalesque Geneva: A London-based hedge fund, which has just hired two emerging managers, is cautious on Europe. Vassilis Paschopoulos and former Lehman’s colleague Nikos Kargadouris, launched a London-based credit-focused hedge fund called

  5. Performance - Hedge funds bruised by stocks’ meltdown, Capstone’s volatility hedge fund is having a monster month thanks to market mayhem[more]

    Hedge funds bruised by stocks’ meltdown From WSJ.com: Hedge-fund managers like to promise their investors protection from market swings. In the recent stock swoon, many were caught off guard. Billionaire managers such as Leon Cooperman, Raymond Dalio and Daniel Loeb are deeply in the red

 

banner