Synthetic prime brokerage and the risk of tax recharacterisation

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Prime Brokerage Anatomy™
There is no industry standard prime brokerage agreement, so this is not so much an anatomy as a collection of resources about an amorphous subject.
Hedge fund | AIFMD | Depositary | Prime broker | prime brokerage agreement | synthetic prime brokerage | margin lending | custody asset | CASS Anatomy | reuse & rehypothecation | hedge fund | leveraged alpha | greeks | short selling Index: Click to expand:
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Why there is no real risk of a synthetic equity position being a secret custody position doing the taxman out of his money