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Transcript
SWEDISH SECURITIES DEALERS ASSOCIATION European Commission Directorate-General for Taxation and Customs Union Stockholm 2011-04-19 European Commission (EC) Consultation on Taxation of the Financial Sector. The Swedish Securities Dealers Association (SSDA, register id 7777147632-40) represents the common interest of banks and investment firms active on the Swedish securities market. The mission of SSDA is the maintaining of a sound, strong and efficient securities market in Sweden. SSDA promotes members’ views with regard to regulatory, market and infrastructure related issues. It also provides a neutral forum for discussing and exchanging views on matters which are of common interest to its members. SSDA supports the response provided by the European Banking Federation (EBF) but would like to stress, based on our experience of the Swedish transaction tax, the harmfulness of such taxes. As shown by the IMF Staff Paper, Securities Transaction Taxes and Financial Market, a transaction tax can obstruct price discovery and prize stabilisation, increase volatility, reduce market liquidity, and inhibit the efficiency of financial markets. Kerstin Hermansson Lars Afrell Blasieholmsgatan 5, 6tr, Box 1426, 111 84 Stockholm, Sweden Tel +46 8 56 26 07 00, Fax +46 8 611 61 37 http://www.fondhandlarna.se
