proposed by U.S. President Barack Obama”s tax obligations of banks can be challenged in the Supreme Court. One of the largest lobbying groups of the financial sector - Securities Industry and Financial Markets Association (SIFMA) - hired a well known lawyer in order to establish the legality of such selective taxation sector participants.
interests of the sector will defend very well known and titled lawyer from the company Sidley Austin Carter Phillips, who has extensive experience in the U.S. Supreme Court. According to The New York Times, e-mails with the notice of his hiring were sent to a group of heads of major banks last week. The task of Phillips Obama”s proposals include checking for compliance with the bill the U.S. Constitution.
According to experts, the authorities will be very difficult to prescribe in law all aspects of the so-called “tax on the crisis.” He is expected to be charged with 50 major financial institutions, whose assets exceed $ 50 billion in the same time, many hedge funds, and insurance company AIG, along with the banks received emergency assistance from the state during the crisis, will be exempt from tax. Thus, the selection of several banks, rather than the entire sector could be interpreted as a violation of the law.
In SIFMA confirmed RBC daily, that Carter Phillips actually hired to protect the interests of its members, as well as the fact that SIFMA does not approve of Obama”s initiative. Employee who wished to remain anonymous, added that it was too early to talk about litigation because the bill itself has not passed before Congress and has no legal force. It should be noted that representatives of the U.S. banking industry is not the first time resorted to the services of Phillips. Last spring, SIFMA instructed him to examine the legal aspects of the proposed government tax on bonuses. Then, before the court case had not gone - the bill was not passed.
At this time, the White House is ready to go to the end. “Instead of sending the bill to combat the many lobbyists and hire an army of lawyers and accountants in the hope of avoiding taxation, I suggest you think about it, but not easier to pay,” - said Barack Obama. This attitude of the authorities, experts say, could nullify all legal kontrvypady lobbyists.
“legally challenge the bill is unlikely to succeed. The staff of the presidential administration will be able to find a justification for the adoption of the law in that form, - has explained RBC daily partner of law firm SALANS Randi Bregman. - The most promising option in this case it would be lobbying at a hearing in Congress. completely eliminate the tax so unlikely, but lower, for example, the rate is quite possible,
fight
bankers really have something. According to Morgan Stanley, the biggest payments will fall on Citigroup (2,2 billion dollars), J. P. Morgan Chase (2,1 billion) and Bank of America Merrill Lynch (2,1 billion). Will have to fork out and foreign banks operating in the United States. Among these large payments will fall in Barclays ($ 560 million), Deutsche Bank (551 million) and HSBC (430 million).
While the president”s initiative is discussed in the business and political circles of the country, banks continued to unnerve the rank and file citizens exorbitant bonuses for their employees. Thus, according to reports from Wall Street, the four largest U.S. bank in the amount going to pay their managers about $ 100 billion in the form of bonuses and other incentive programs.
Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank “
Ministry of Finance: The budget deficit of Russia in 2009 amounted to 2.326 trillion rubles
The dynamics of trades within the day will depend not only on the situation on the oil market, but also on the news from Europe and the U.S.
Recovery commodity prices held the rise in stock markets
Asia: Reporting spite the expectation of weak banks and high-tech sector
Inflation in the UK accelerated in December, a record
The Ukrainian parliament has not overcome a veto on the law on the moratorium on the sale of agricultural lands
Energometodiku change
At 16.00 Moscow time the volume of trading in the market for government securities MICEX amounted to 48.69 billion rubles
Bankers Strike Back
proposed by U.S. President Barack Obama”s tax obligations of banks can be challenged in the Supreme Court. One of the largest lobbying groups of the financial sector - Securities Industry and Financial Markets Association (SIFMA) - hired a well known lawyer in order to establish the legality of such selective taxation sector participants.
interests of the sector will defend very well known and titled lawyer from the company Sidley Austin Carter Phillips, who has extensive experience in the U.S. Supreme Court. According to The New York Times, e-mails with the notice of his hiring were sent to a group of heads of major banks last week. The task of Phillips Obama”s proposals include checking for compliance with the bill the U.S. Constitution.
According to experts, the authorities will be very difficult to prescribe in law all aspects of the so-called “tax on the crisis.” He is expected to be charged with 50 major financial institutions, whose assets exceed $ 50 billion in the same time, many hedge funds, and insurance company AIG, along with the banks received emergency assistance from the state during the crisis, will be exempt from tax. Thus, the selection of several banks, rather than the entire sector could be interpreted as a violation of the law.
In SIFMA confirmed RBC daily, that Carter Phillips actually hired to protect the interests of its members, as well as the fact that SIFMA does not approve of Obama”s initiative. Employee who wished to remain anonymous, added that it was too early to talk about litigation because the bill itself has not passed before Congress and has no legal force. It should be noted that representatives of the U.S. banking industry is not the first time resorted to the services of Phillips. Last spring, SIFMA instructed him to examine the legal aspects of the proposed government tax on bonuses. Then, before the court case had not gone - the bill was not passed.
At this time, the White House is ready to go to the end. “Instead of sending the bill to combat the many lobbyists and hire an army of lawyers and accountants in the hope of avoiding taxation, I suggest you think about it, but not easier to pay,” - said Barack Obama. This attitude of the authorities, experts say, could nullify all legal kontrvypady lobbyists.
“legally challenge the bill is unlikely to succeed. The staff of the presidential administration will be able to find a justification for the adoption of the law in that form, - has explained RBC daily partner of law firm SALANS Randi Bregman. - The most promising option in this case it would be lobbying at a hearing in Congress. completely eliminate the tax so unlikely, but lower, for example, the rate is quite possible,
fight
bankers really have something. According to Morgan Stanley, the biggest payments will fall on Citigroup (2,2 billion dollars), J. P. Morgan Chase (2,1 billion) and Bank of America Merrill Lynch (2,1 billion). Will have to fork out and foreign banks operating in the United States. Among these large payments will fall in Barclays ($ 560 million), Deutsche Bank (551 million) and HSBC (430 million).
While the president”s initiative is discussed in the business and political circles of the country, banks continued to unnerve the rank and file citizens exorbitant bonuses for their employees. Thus, according to reports from Wall Street, the four largest U.S. bank in the amount going to pay their managers about $ 100 billion in the form of bonuses and other incentive programs.
Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank “
Ministry of Finance: The budget deficit of Russia in 2009 amounted to 2.326 trillion rubles
The dynamics of trades within the day will depend not only on the situation on the oil market, but also on the news from Europe and the U.S.
Recovery commodity prices held the rise in stock markets
Asia: Reporting spite the expectation of weak banks and high-tech sector
Inflation in the UK accelerated in December, a record
The Ukrainian parliament has not overcome a veto on the law on the moratorium on the sale of agricultural lands
Energometodiku change
At 16.00 Moscow time the volume of trading in the market for government securities MICEX amounted to 48.69 billion rubles