Ex-Macquarie Banker Must Stand Cum-Ex Trial, Court Rules

A former banker at Macquarie Group Ltd. must stand trial in Germany over the Cum-Ex affair, a German court ruled, making him the first former staffer from a major international investment bank to face charges in court in the tax scandal.

The trial against the man will start on May 21 at a Bonn court, a spokesman for the tribunal said by phone. Hearings are scheduled until mid-July, he added. Cologne Prosecutors charged the man last year over trades that took place before 2012, people familiar with the matter have said.