Asset Management

BlackRock’s Munich offices raided in German tax probe

Investigation into historical trades has already embroiled several other firms and banks

Thursday 8 November 2018 at 07:50

German prosecutors searched the Munich offices of BlackRock drawing the world’s largest asset manager into a long running criminal tax-fraud investigation that has already embroiled several other financial firms.

The probe centers on historical so-called cum/ex transactions which are trades executed during the handful of days before and after scheduled dividend-payment dates.