TREASURY EYES HEDGE FUND “LOOPHOLE” Bloom
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Posted On: 09/14/2014 1:25:18 PM
TREASURY EYES HEDGE FUND “LOOPHOLE”
Bloomberg’s Zachary R. Mider: “The U.S. Treasury Department said it’s considering ways to end a ‘loophole’ that allows hedge-fund managers to avoid taxes by routing their investments through an insurance company in low-tax countries like Bermuda. The Treasury, in an Aug. 9 letter obtained by Bloomberg … told Senate Finance Committee Chairman Ron Wyden that it’s concerned about such arrangements and is weighing legislative and administrative responses. Among the hedge-fund managers who have set up Bermuda insurance vehicles in recent years are John Paulson’s Paulson & Co. and Steven A. Cohen’s SAC Capital Advisors LP. Cohen has since cut ties with his insurer.”
http://bloom.bg/1uyda61
Bloomberg’s Zachary R. Mider: “The U.S. Treasury Department said it’s considering ways to end a ‘loophole’ that allows hedge-fund managers to avoid taxes by routing their investments through an insurance company in low-tax countries like Bermuda. The Treasury, in an Aug. 9 letter obtained by Bloomberg … told Senate Finance Committee Chairman Ron Wyden that it’s concerned about such arrangements and is weighing legislative and administrative responses. Among the hedge-fund managers who have set up Bermuda insurance vehicles in recent years are John Paulson’s Paulson & Co. and Steven A. Cohen’s SAC Capital Advisors LP. Cohen has since cut ties with his insurer.”
http://bloom.bg/1uyda61
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