FCA fines and bans Nailesh Teraiya for alleged cum-ex trading

Sixth case brought by the FCA in relation to cum-ex trading with support of global law enforcement authorities. 

The UK regulator said on Monday that it had fined Nailesh Teraiya, formerly the sole controller and chief executive of Indigo Global Partners Limited (Indigo), £5.95m ($7.58m) and banned him from carrying out any regulated activity. 

Cum-ex trading is a complex tax avoidance scheme that involves selling and buying

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in