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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