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Email The progress of the European Financial Transaction Tax (the “FTT”) towards becoming law in eleven participating Member States of the European Union overcame another hurdle on 30 April 2014 with the Court of Justice of the European Union (the “CJEU”) dismissing, perhaps unsurprisingly, the UK’s first legal challenge to the implementation of the FTT. This Clients & Friends Alert provides the background to the UK’s application to the CJEU, an overview of the CJEU’s decision and a discussion of what the CJEU’s decision means for the future of the FTT. https://www.cadwalader.com/resources/clients-friends-memos/eu-court-of-justice-rejects-uk-challenge-to-the-eu-financial-transactions-tax