Sunday, 28 December 2014
Last updated 1 hour ago
May 20 2010 | 2:12pm ET
A pair of proposals that could have a big impact on the hedge fund and private equity industries have reappeared on the floor of the U.S. Congress.
A bill that would increase taxes on performance fee income was introduced in both houses on Capitol Hill today. The proposal would close the so-called “carried-interest” loophole, which taxes a manager’s share of a fund’s profit as capital gains, rather than ordinary income.
Capital gains are taxed at 15%, while ordinary income is taxed at a top rate of 35%.
The bill would allow some carried interest to continue to be taxed as capital gains. But at least 75% of the rest would have be treated as ordinary income.
Meanwhile, Sens. Jeff Merkley (D-Ore.) and Carl Levin (D-Mich.) have amended their amendment that would tighten up the proposed Volcker rule, which would bar banks from the hedge fund and private equity industries. Republicans earlier this week blocked a vote on the rule.
The change would allow the amendment to be added to the overall financial overhaul bill even after the Senate votes to limit debate on and changes to the matter.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.