Rahman Ravelli’s Senior Partner Aziz Rahman was asked by Securities Finance Times what he thought may happen in relation to Cum-Ex in 2021.
Aziz outlined his reasons for believing that the next 12 months could see action regarding Cum-Ex in a number of countries in the European Union, as well as in the UK.
He highlighted the involvement of the Financial Conduct Authority and stated his belief that investigations will continue at pace; especially when the social restrictions caused by Covid-19 have been eased.
Aziz also explained possible reasons why assets identified as “proceeds of crimes” that are moved around as part of a Cum-Ex trade structure could also prove to be the subject of money laundering charges. He predicted either the imposition of civil penalties in the future or criminal enforcement – and cited the FCA’s willingness to cooperate with the European Union in the wake of Brexit.
Aziz's comments featured in Securities Finance Times.