Permanent Subcommittee on Investigations

Abuse of Structured Financial Products: Misusing Basket Options to Avoid Taxes and Leverage Limits

Date: July 22, 2014
Time: 9:30am
Location: Room 216, Hart Senate Office Building
Agenda:

The Permanent Subcommittee on Investigations has scheduled a hearing, “Abuse of Structured Financial Products: Misusing Basket Options to Avoid Taxes and Leverage Limits,” on Tuesday, July 22, 2014, at 9:30 a.m., in Room 216 of the Hart Senate Office Building.

The Subcommittee hearing will examine a set of transactions that utilize financial engineering and structured financial products to attempt to avoid paying U.S. taxes on short-term capital gains. Witnesses will include representatives of major financial institutions, as well as tax experts from a nonprofit institution and the U.S. Government Accountability Office. 

Member Statements

NULL

CARL

LEVIN

(D -
 MI)

Senator

John

McCain

(R -
 AZ)

Witnesses

EXHIBITS

EXHIBITS: Part 1 of 4,

Exhibits 1-20

EXHIBITS

EXHIBITS: Part 2 of 4,

Exhibits 21-37

EXHIBITS

EXHIBITS: Part 3 of 4,

Exhibits 38-51

EXHIBITS

EXHIBITS: Part 4 of 4,

Exhibits 52-68

PANEL ONE

STEVEN M.

ROSENTHAL

Senior Fellow

Urban-Brookings Tax Policy Center

PANEL THREE

GERARD

LaROCCA

Chief Administrative Officer, Americas, Barclays

Chief Executive Officer, Barclays Capital Inc.

PANEL THREE

M. BARRY

BAUSANO

President and Managing Director, Deutsche Bank Securities Inc.

Co-Head of Global Prime Finance

PANEL THREE

PETER

BROWN

Co-Chief Executive Officer and Co-President

Renaissance Technologies LLC

PANEL TWO

MARTIN

MALLOY

Managing Director

Barclays

PANEL TWO

SATISH

RAMAKRISHNA

Managing Director, Deutsche Bank Securities Inc.

Global Head of Risk and Pricing for Global Prime Finance

PANEL TWO

MARK

SILBER

Executive Vice President, Chief Financial Officer, Chief Compliance Officer, and Chief Legal Officer

Renaissance Technologies LLC

PANEL TWO

JONATHAN

MAYERS

Counsel

Renaissance Technologies LLC

REPORT

ABUSE OF STRUCTURED FINANCIAL PRODUCTS: Misusing Basket Options to Avoid Taxes and Leverage Limits

(July 22, 2014)

Related Files

EXHIBITS: Part 1 of 4, Exhibits 1-20 (EXHIBITS (Part 1 of 4 - Ex. 1-20)1.pdf)

EXHIBITS: Part 2 of 4, Exhibits 21-37 (EXHIBITS (Part 2 of 4 - Ex. 21-37)1.pdf)

EXHIBITS: Part 3 of 4, Exhibits 38-51 (EXHIBITS (Part 3 of 4 - Ex. 38-51)1.pdf)

EXHIBITS: Part 4 of 4, Exhibits 52-68 (EXHIBITS (Part 4 of 4 - Ex. 52-68)1.pdf)

STEVEN M. ROSENTHAL (STMT - Steve Rosenthal (Urban-Brookings) (July 22 2014)1.pdf)

ABUSE OF STRUCTURED FINANCIAL PRODUCTS: Misusing Basket Options to Avoid Taxes and Leverage Limits (July 22, 201...

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