Last week the European Commission announced plans for a levy on financial transactions.
'Algirdas Semeta, the EU tax commissioner, hailed an initiative that was “unquestionably fair, technically sound and legally robust”. His proposal paves the way for France, Germany and nine other euro area countries to launch negotiations on the exact terms of the tax, which diplomats expect to be significantly scaled back before it is introduced.'
Back in December 2012, NSFM launched a paper: No Exemption: The Financial Transaction Tax and Pension Funds by Jack Gray, Stephany Griffith-Jones and Joakim Sandberg. This is available for download here.