Article
Submitted: 15 February 2013
The key features and likely practical implications of the Financial Transaction Tax proposed by the European Commission in its draft Directive released on 14 February 2013. The proposed FTT will apply only to the (currently) 11 Member States which have chosen to participate in it, but has a number of extra territorial aspects which will result in FTT being imposed on numerous market participants located outside of participating Member States (or even outside the EU).