Thursday, 31 July 2014
Last updated 18 hours ago
Nov 12 2007 | 1:03pm ET
The U.S. House of Representatives last week passed a controversial tax reform bill that would increase the levy on alternative investment managers by almost $50 billion over the next decade.
“We planted the flag of fiscal responsibility,” House Speaker Nancy Pelosi (D-Calif.) said, “as we gave a tax cut to the middle class.”
Eight Democrats joined 185 Republicans in voting against the measure, championed by Rep. Charles Rangel (D-N.Y.). But it wasn’t enough to sink the measure, which passed by a vote of 216 to 193. But the bill, which has faced withering criticism from Republicans, is unlikely to get through the Senate. Even if it did, President Bush had threatened to veto it.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…