"The city's view of the First Amendment is wrong, and we intend to continue to demonstrate that in court, " Mr. Lorence said in a statement.

WSJ: Another School Sunday for Churches

"For the second kind, because of the risks of the issuer, each such ETN would be viewed as its own security with its own issuer risks, " says Lorence.

FORBES: Magazine Article

Lorence notes that wash sale treatment depends on whether the ETF holds a basket of securities or if the ETF or exchange-traded note (ETN) is a security such as an option or debt instrument.

FORBES: Magazine Article