... via un(?)intended consequences, like the Brits many years ago:July 24 (Bloomberg) -- French President Francois Hollande’s transaction tax is set to take effect Aug. 1. Not all investors will be paying it.To escape the tax, many institutional investors will turn to so-called contracts for difference, or CFDs, offered by prime brokers that let them bet on a stock’s gain or loss without owning the shares. Traders have used it successfully to skirt the U.K.’s stamp duty.“We’ve never purchased U.K. stocks without using a CFD,” said Fabrice Seiman, co-chief executive officer of Lutetia Capital, a merger-arbitrage fund in Paris that oversees $100 million. “Now we’ll do the same for French stocks. It is individual investors who are going to pay.” ...http://www.sfgate.com/business/bloomberg/article/Hollande-Tr...http://online.wsj.com/article/SB1000087239639044347710457755...Oh, interestingly enough, only the daily net purchase amount seems to get taxed... so day traders and HFTs might actually go unaffected, too.SB<pulling hairs out>
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