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UK watchdog imposes first fine in sham trading scandal Reuters 4 hrs ago LONDON, May 6 (Reuters) - Britain s financial watchdog has imposed its first fine in relation to an international sham trading scheme, known as cum-ex , with potentially more to come, it said on Thursday. The Financial Conduct Authority fined Sapien Capital Ltd 178,000 pounds ($247,331.00) for serious financial crime control failings which led to the risk of facilitating fraudulent trading and money laundering. Sapien Capital could not be immediately reached for comment. The cum-ex scheme involved numerous banks and investors engineering trades worth billions of euros to make bogus tax reclaims from phantom dividends.

United kingdomCity ofHuw jonesJane merrimanFinancial conduct authoritySapien capital ltdAsolo groupஒன்றுபட்டது கிஂக்டம்நகரம் ஆஃப்ஹ ஜோன்ஸ்ஜேன் மெரிமந்நிதி நடத்தை அதிகாரம்தனி குழு