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Articles tagged with: Hedge Funds and Private Equity

TOWS Statement: Groups Slam Tax Bills For Failure to Close Carried Interest Loophole
November 10, 2017 – 10:44 am

The Take on Wall Street campaign denounced the proposed tax bills for effectively preserving the carried interest loophole for Wall Street money managers, a loophole Trump promised to close during the campaign trail.

AFR in the News: Report Finds More than $5 Million Spent in NY’s 19th CD by Hedge Fund Managers (Time-Warner Cable News)
October 31, 2016 – 5:51 pm

“A new report released this week by the HedgeClippers campaign shows just how much money is being spent in [the 19th] district by hedge fund managers… $5.5 million [to protect] the carried-interest loophole. ‘[Q]uite often when you have a lot of money coming in from Wall Street… people vote in lockstep with what Wall Street wants,’” says Alexis Goldstein, Senior Policy Analyst at Americans for Financial Reform.

AFR in the News: Private Equity Tries to Chip Away at Dodd-Frank With House Bill (NY Times)
September 8, 2016 – 1:26 pm

“The bill’s opponents — including [Rep. Maxine] Waters and the advocacy group Americans for Financial Reform — question why Congress would undo some restrictions on private equity just as the S.E.C. was identifying problems in the industry. In particular, the opponents have raised concerns about a provision that would reduce the amount of information that large private equity fund managers report to regulators…”

Letter to Congress: AFR, 5 Orgs Urge Congress to Reject The Investment Advisers Modernization Act
September 7, 2016 – 2:25 pm

AFR and 5 other organizations urge Congress to reject HR 5424, a dangerous bill that would allow private funds to evade SEC examinations, and to distribute misleading and even fraudulent advertising materials.

Letter to Regulators: SEC Should Investigate Potential Unregistered Broker-Dealer Activity at Private Equity Firms
August 2, 2016 – 4:04 pm

AFR wrote to the SEC to urge them to vigorously investigate what appear to be ongoing, widespread violations of securities law by private equity advisers.

AFR in the News: Hillary Clinton’s plan to take on a Wall Street perk (Washington Post)
June 21, 2016 – 12:55 pm

“[W]ith populist anger aimed at Wall Street during this presidential election season rising, the ‘carried interest loophole,’ which allows the managers of private-equity firms to pay a lower tax rate, is back in the spotlight. ‘This year is just different. There has been a populist surge politically in both parties,’ said Marcus Stanley, policy director for Americans for Financial Reform. ‘Having the wealthiest people in the financial system paying a lower rate than everyone else is even harder to swallow. People realize that it doesn’t have to be like this.'”

AFR in the News: Occupy Wall Street is back – and it might actually succeed this time (Salon)
May 25, 2016 – 3:26 pm

“The banks are larger now than they were before the bailouts, and the stench of corruption persists. As Lisa Donner, executive director of Americans for Financial Reform, put it, ‘The tone of the election as reminded many people just how deeply felt the frustration and anger is about the way that Wall Street has shaped the economy in its own interest.’”

Joint Letter: AFR and 7 allies call for crackdown on another private equity tax dodge
May 11, 2016 – 8:19 am

“Unlawful monitoring fee deductions… have been claimed by the private equity industry on an annual basis for many years… Hundreds of millions, if not billions, of tax revenue is lost each and every year of enforcement delay because of the statute of limitations. We hope and expect the IRS to actively, vigorously, and expeditiously enforce current law with respect to ongoing monitoring fee arrangements.”