July 16, 2014

Senate Homeland Security and Government Affairs Permanent Subcommittee on Investigations Announces Hearing on Structured Financial Product Abuse

The Senate Homeland Security and Government Affairs Permanent Subcommittee on Investigations announced a hearing titled "Abuse of Structured Financial Products: Misusing Basket Options to Avoid Taxes and Leverage Limits."

The hearing will examine a set of transactions that utilize financial engineering and structured financial products to effect attempts to avoid paying U.S. taxes on short-term capital gains. Witnesses will include representatives of major financial institutions, as well as from a nonprofit institution and the U.S. Government Accountability Office. A witness list will be released on July 18, 2014.

The hearing is scheduled for July 22, 2014 at 9:30 a.m.

See: Homeland Security and Governmental Affairs Press Release.

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