The administration can unilaterally limit inverted companies from taking interest deductions in the U.S. or from accessing their foreign cash without paying U.S. taxes, Stephen Shay said in an interview and in an article published today in Tax Notes.
Jump Trading LLC, was all but invisible until it was among six companies subpoenaed in April by New York prosecutors. Jump has ascended the ranks of high-frequency traders during the past 15 years to become one of the top firms on the Chicago Mercantile Exchange.
Just days after announcing his resignation as Commissioner of the CFTC, Scott O'Malia was named CEO of the International Swaps and Derivatives Association (ISDA). Swaps only came under the CFTC's jurisdiction during O'Malia's tenure with the passage of the Dodd-Frank Act.