Friday, 28 November 2014
Last updated 11 hours ago
Jul 12 2007 | 12:44pm ET
The Bush administration has come out against raising taxes on private equity firms, hedge funds and their managers, warning that it could undermine “entrepreneurship.”
At yesterday’s Senate Finance Committee hearing on the issue, Eric Solomon, assistant Treasury secretary for tax policy, urged Congress to “be cautious about making significant changes” to partnership and capital gains tax rules that have “worked successfully to promote and support entrepreneurship for many decades.”
The panel’s top-ranking Democrat and Republican, Sens. Max Baucus (D-Mont.) and Charles Grassley (R-Iowa) are co-sponsoring legislation that would more than double the tax rate on certain partnerships—like p.e. firms—that go public. Meanwhile, in the House of Representatives, Democrats are pushing a bill that would do the same to “carried interest,” investment gains made by fund managers.
Still, the prospects for success did not look good at the hearing, with three key Democrats—Sens. John Kerry (D-Mass.), Ron Wyden (D-Ore.) and Charles Schumer (D-N.Y.)—expressing reservations, and many committee Republicans publicly opposing the measure.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...