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Cum-ex: FCA fines broker over trading violations

Summary by City AM
The Financial Conduct Authority (FCA) has fined broker Arian Financial £288,962 over cum-ex trading violations, after it failed to ensure it had effective systems and controls against financial crime. Cum-ex trading, also known as dividend stripping, is a method of tax avoidance that allows firms to distribute profit as capital gains rather than dividends, allowing them to pay a lower level of tax. This is the seventh case brought by the FCA in …
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