Structured product and mutual funds industries clash during US tax hearing



Representatives of the US structured product and mutual fund industries have gone head to head over the taxation of derivative instruments at a Washington hearing on March 5.

The Ways and Means committee hearing was originally instigated by the mutual fund lobby in an attack on the favourable taxation of exchange-traded notes (ETNs), but it has rapidly become a wider debate on the taxation of associated products.

"The mutual fund industry can't simply demand that structured products and derivative

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