Rather than bringing criminal charges based on a specific underlying transaction in which a bank or other financial institution failed to file a Currency Transaction Report or Suspicious Activity Report, federal prosecutors are charging financial institutions with an overall failure to maintain an effective program to prevent money laundering.
Whether a Tobin Tax would affect volatility in the same way as underlying market transaction costs is not clear.
Thus, in a typical analysis, the lawyer is focused on a fact-specific transaction and would analyze each and every duty or obligation imposed by law and determine what must be done to comply and what must be avoided so as not to breach some duty imposed by statute, regulation, common law, or the contractual obligations underlying the transaction itself.
While the calls do not appear to be tied to any simultaneous transaction in the underlying stock, it is possible the investor is already long the stock and selling covered calls.
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Speculation has swirled in recent weeks that the underlying real estate value in a Home Depot transaction might present the same type of appeal to Lampert that it did in the Sears deal.
Someone who invests with an adviser who outsources the portfolio to another firm could pay four different layers of fees: one from his primary adviser, another from the portfolio manager, one from the underlying ETFs and another for the portfolio's transaction costs, says Rick Ferri, founder of Portfolio Solutions, an investment adviser in Troy, Mich.
This underlying commission-base structure creates a bias that permeates the entire transaction from the initial training to the execution.
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Unless people were getting fancy with valuation for estate tax purposes or the value of the underlying property skyrocketed in a very short period, you would expect that the transaction would be close to a wash for federal income tax purposes.
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