David Stern features in Butterworths Journal of International Banking and Financial Law, May 2020 Edition. 

Several European countries are currently engaged in civil proceedings, regulatory settlements and criminal proceedings surrounding the fallout from CumEx trading, a dividend arbitrage trading practice that focussed on multiple tax rebate claims worth an estimated €55bn. European investigations are intensifying and there are significant ramifications in the UK for the banks and brokers involved, and potentially those advising them.

David's article, The Cum-Ex Trading Scandal: What are the implications for the UK? can be viewed and downloaded here.

David Stern is an experienced barrister practising in financial crime. He is Joint Head of Business Crime at 5SAH in London.

David was at the forefront of the LIBOR benchmark manipulation scandal successfully representing senior bankers and inter-dealer brokers in SFO criminal proceedings.

He is also considered a leading legal expert on the implications of Cum-Ex dividend arbitrage trading practices.

David is ranked in Chambers & Partners as a leader in the field of Financial Crime (London) as well as the Legal 500 for Business and Regulatory Crime (including Global investigations) (London).

Email: davidstern@5sah.co.uk

Telephone: +44 (0) 207 332 5400.