February 11, 2019
Oregon Sen. Ron Wyden proposed legislation Friday that would give states a free hand to allow legal cannabis markets without the threat of federal criminal intervention, the latest push in Congress to bolster the nation’s burgeoning pot industry. The proposal, …
November 2, 2018
A senior Democratic U.S. senator on Thursday unveiled draft legislation that would allow hefty fines and as much as 20-year prison terms for executives who violate privacy and cybersecurity standards. Senator Ron Wyden released a draft of legislation that would …
June 16, 2016
Dan Loeb’s Third Point Reinsurance Ltd. said scrutiny of the industry’s offshore tax advantage has lessened after hedge fund manager John Paulson closed a venture that stood out as an ” outlier” for its aggressive use of strategies that were …
March 3, 2016
Dan Loeb’s reinsurer cited risks tied to regulation as the Internal Revenue Service and U.S. Senator Ron Wyden work to limit what the lawmaker called a “tax loophole” used by hedge fund managers to route investments abroad. Third Point Reinsurance …
January 13, 2016
Billionaire John Paulson’s New York hedge fund firm has shut an operation in Bermuda that had been targeted by a Democratic lawmaker as a tax shelter. Paulson’s venture, a reinsurer named PaCRe Ltd., has stopped writing new coverage, and its …
June 26, 2015
The owners of hedge fund-backed reinsurers, including one tied to John Paulson, could have to pay more taxes or shift their focus under a bill introduced by Senator Ron Wyden to counter what he called abuses by offshore companies. “For …
May 19, 2015
The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory …