U.K.’s FCA Ordered by London Judge to Pause Cum-Ex Probe

(Bloomberg) -- The U.K. financial regulator was ordered to stop work on its investigation into a “Cum-Ex” tax suspect until a civil trial rules on the matter.

Judge Jonathan Swift said an October trial brought by Danish tax authorities against former trader and hedge-fund manager Sanjay Shah and his associates should be allowed to run first.

The Financial Conduct Authority has been scrutinizing the accused man, who can’t be identified, since at least 2015.

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