Investor associations, banks and exchanges in Germany are demanding a fair taxation of private investors as a new tax framework looms.

The German Derivatives Association (DDV), the Stuttgart Stock Exchange and the main association for German investors – the German Protection Association for Wertpapierbesitz (DSW) - are appealing to the Federal Ministry of Finance to stick to the line set out on its June 2020 draft letter which established warrants would not be classified as futures. “We are expecting the final letter by the Federal Finance Ministery [shortly],” Lars Brandau (pictured) , managing director at t

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