Wednesday, July 13, 2016

Denmark Seeks EU Fix To ‘Div-Arb’ Deals

Banks, for their part, have said the activity is legal and that when they lend investors’ shares they do so in full compliance with local regulations — putting the onus on lawmakers and regulators to act.

A Danish politician is asking the European Commission to examine stock loan deals that drain the country and many of its neighbors of tens of millions of dollars in forgone tax revenues. The request, made by Jeppe Kofod, a Danish member of the European Parliament, could open a new front in lawmakers’ efforts to stamp out…

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