is relatively easy circument for example by using as intermediaries investment companies that the directive does not as paying and which are therefore under no obligation to participate in
It is relatively easy to circumvent, for example by using as intermediaries investment companies that the directive does not define as paying agents and which are, therefore, under no obligation to participate in the information exchange system.
is relatively easy circumvent, for example by using as intermediaries investment companies that the directive does not as paying and which are, therefore, under no obligation to participate in the information exchange system.