Politics & Regulation Tax & Legal

AIMA says EU ‘Tobin tax’ could undermine the single market

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The proposed European Union financial transaction tax (FTT) could lead to a significant decrease in cross-border trading of financial instruments in the EU, undermining the single market in the process – according to the Alternative Investment Management Association.

Global hedge fund association AIMA, which has carried out a comprehensive analysis of the proposed FTT, said in a statement that would be a significant slowdown in trading of financial instruments such as shares, bonds and derivatives in the EU.

The AIMA analysis concluded that the FTT would have widespread and unintended damaging consequences. As well as undermining the EU’s