Yes, this would have to be introduced at a very low rate lest it drive trading offshore.
Many questions remain regarding trading offshore to evade leverage and other constraints posed by the new CFTC rules.
There are plenty of people asking these important questions, as thousands of Americans have offshore retail forex trading accounts.
Notice how the CFTC may not allow Americans to get higher leverage offshore with new forex trading rules. (See my past blogs and podcasts.) Could regulators and tax authorities use extraterritorial reach on an FTT too?
FORBES: European Union To Talk Bank Levy, Financial Transaction Tax
It seems these new rules will put a stop to Americans trading retail forex offshore to evade CFTC rules.
Hercules Offshore Inc shares are currently trading up about 0.2% on the day.
Hercules Offshore Inc shares are currently trading up about 0.7% on the day.
The SEC typically files only one or two emergency actions every year, usually to prevent the risk that profits from suspicious trading will vanish offshore.
WSJ: SEC Freezes Swiss Account Used in Trades Ahead of Heinz Deal
The SEC typically files only one or two emergency actions related to suspected insider trading using options every year, usually to prevent the risk that profits from suspicious trading will vanish offshore.
WSJ: SEC Freezes Swiss Account Used in Trades Ahead of Heinz Deal
Hornbeck Offshore Services Inc shares are currently trading down about 3.2% on the day.
Hornbeck Offshore Services Inc shares are currently trading down about 9% on the day.
Hornbeck Offshore Services Inc shares are currently trading off about 3.6% on the day.
FORBES: Hornbeck Offshore Services Stock Getting Very Oversold
Hornbeck Offshore Services Inc shares are currently trading up about 4.1% on the day.
GulfMark Offshore, Inc. shares are currently trading down about 3.1% on the day.
GulfMark Offshore, Inc. shares are currently trading down about 7.4% on the day.
GulfMark Offshore, Inc. shares are currently trading down about 2.6% on the day.
"We know that they were trading fast and loose with offshore corporate entities that were hiding their debt from the public, " Lieberman said.
Among the largest underlying components of XES, in trading today Basic Energy Services Inc ( NYSE: BAS) is off about 0.6%, Patterson-UTI Energy Inc. ( NASD: PTEN) is trading flat, and Hercules Offshore Inc ( NASD: HERO) is lower by about 1.7%.
Diamond Offshore Drilling, Inc. shares are currently trading up about 2.4% on the day.
Diamond Offshore Drilling, Inc. shares are currently trading up about 2.7% on the day.
Diamond Offshore Drilling, Inc. shares are currently trading up about 7.5% on the day.
FORBES: Diamond Offshore Drilling, Inc. Stock Getting Very Overbought
Diamond Offshore Drilling, Inc. shares are currently trading off about 3% on the day.
Diamond Offshore Drilling, Inc. shares are currently trading off about 1.9% on the day.
Diamond Offshore Drilling, Inc. shares are currently trading down about 2.6% on the day.
Diamond Offshore Drilling, Inc. shares are currently trading up about 1.8% on the day.
But London is growing faster than other financial centers, such as Singapore, as a hub for offshore yuan payments, including payments for currency trading, imports and exports, and dim-sum-bond settlements.
Teekay Offshore Partners L.P. shares are currently trading off about 2.7% on the day.
FORBES: Teekay Offshore Partners Stock Getting Very Oversold
Teekay Offshore Partners L.P. shares are currently trading up about 1.2% on the day.
Teekay Offshore Partners L.P. shares are currently trading down about 1.5% on the day.
Teekay Offshore Partners L.P. shares are currently trading off about 4.9% on the day.
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