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{{a|pb|[[File:Dramatic Chipmunk.png|thumb| | {{a|pb|[[File:Dramatic Chipmunk.png|thumb|center|DID SOMEONE SAY [[recharacterisation|RECHARACTERISATION??]]}} | ||
===Why | ===Why a [[synthetic equity]] position is not a secret [[custody]] position tax fiddle=== | ||
Controversial view, perhaps, but the tax disposition which led to someone inventing the “[[hypothetical broker dealer]]” — a creature as beloved of the [[equity swap]] market as the [[reasonable man]] is of the [[common law]] — is, in [[this commentator]]’s view, predicated on a fundamental misapprehension as to how a [[synthetic equity swap]], and the [[hedging]] and financing behind it, works. | Controversial view, perhaps, but the tax disposition which led to someone inventing the “[[hypothetical broker dealer]]” — a creature as beloved of the [[equity swap]] market as the [[reasonable man]] is of the [[common law]] — is, in [[this commentator]]’s view, predicated on a fundamental misapprehension as to how a [[synthetic equity swap]], and the [[hedging]] and financing behind it, works. |