Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading
The Council of the European Union has published a “State of play” document on the Commission’s proposal for a Directive on enhanced co-operation on financial transaction taxes, between Austria, Belgium, France, Germany,...more
U.K.’s challenge to the proposed financial transaction tax (FTT), while recognizing that the U.K.’s challenge was precautionary — and possibly premature. The U.K. was challenging the European Council’s Decision...more
Lawyers for the European Commission and EU member states are in public disagreement over the legality of the FTT. A leaked legal opinion produced by the EU Council’s legal service alleged that the FTT was both incompatible...more
The European Council Legal Service has issued an opinion that seriously questions the legal validity of the European Commission’s proposals for a financial transaction tax (FTT). The opinion finds that the extraterritorial...more
The European Commission on 14 February 2013 adopted a proposal for a Directive1 authorising eleven countries – Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia (the “FTT Zone”)...more
In September 2011, the European Commission initially proposed that a financial transaction tax (“FTT”) be implemented by all 27 EU Member States, although it soon became clear that a significant proportion of the Member...more