New York proposed to introduce a stock transfer tax, the New York Stock Exchange vocal or move away

Some U.S. lawmakers have proposed a tax on certain financial transactions. Foreign media reported that Stacey Cunningham, president of the New York Stock Exchange, said that if New York imposes a transfer tax on stock sales, the New York Stock Exchange may move out of New York and find a new place to operate.

Cunningham urged New York state lawmakers to reconsider the idea of introducing a stock transaction tax, and said that the NYSE belongs to New York, but if it insists on implementing a stock transaction tax, the NYSE may have to find a new operating location.

Reports indicate that Cunningham and 25 representatives of the New York securities industry last week sent a letter to state legislative leaders, warning them not to impose a transfer tax on stock sales, saying that the increase in the stock transaction tax will eventually be transferred to investors to bear the tax.