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EU watchdog sounds warning over patchwork transaction tax
May 7, 2014 / 9:36 AM / 3 years ago

EU watchdog sounds warning over patchwork transaction tax

LONDON, May 7 (Reuters) - A tax on financial transactions in fewer than half of European Union member states would “not be good” for the bloc’s securities market, a top EU regulator said on Wednesday.

Steven Maijoor, chairman of the European Securities and Markets Authority (ESMA) said debate about the tax on stock and derivatives trades planned by 11 of the EU’s 28 member states has turned into a heated “spectator sport”.

“As a European regulator, obviously I prefer to do something either with all 28 states or nothing,” Maijoor told a conference organised by AFME, a European banking lobby.

Reporting by Huw Jones; Editing by John Stonestreet

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