Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Macquarie Apologizes for Role in Cum-Ex Scandal, Berlingske Says

Nov. 13, 2019, 12:13 PM

Australian investment bank Macquarie has apologized for its role in the dividend tax scandal known as cum-ex, Danish newspaper Berlingske said.

Macquarie, which holds a stake in Denmark’s main phone company TDC A/S, was put on ice by some of the biggest pension funds in the country after it was investigated for tax fraud.

“We regret our previous involvement in the dividend cases and as a consequence we have taken a number of steps to ensure that Macquarie no longer participates in such activities,” Paul Plewman, head of Macquarie’s European unit, wrote in an email to Berlingske.

Those ...