Foreign Bank Secrecy: Hearings, Ninety-first Congress, Second Session, on S. 3678 and H.R. 15073 ...U.S. Government Printing Office, 1970 - 350 pages |
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Page 1
... American taxpayers are cheated out of hundreds of millions of dollars in tax revenues by Americans who are able to conceal their in- come through secret foreign bank accounts . This situation is intolerable and must be stopped . We ...
... American taxpayers are cheated out of hundreds of millions of dollars in tax revenues by Americans who are able to conceal their in- come through secret foreign bank accounts . This situation is intolerable and must be stopped . We ...
Page 29
... American borrowers regardless of who or where the lender may be . It clearly is in- equitable for borrowers in this country to be able to obtain security credit through foreign facilities on terms not lawful here . The first change made ...
... American borrowers regardless of who or where the lender may be . It clearly is in- equitable for borrowers in this country to be able to obtain security credit through foreign facilities on terms not lawful here . The first change made ...
Page 56
... American citizens to evade and defeat American laws and security regulations . S. 3678 also provides for cer- tain recordkeeping by domestic banks as an aid to law enforcement . On May 25 , the House of Representatives unanimously ...
... American citizens to evade and defeat American laws and security regulations . S. 3678 also provides for cer- tain recordkeeping by domestic banks as an aid to law enforcement . On May 25 , the House of Representatives unanimously ...
Page 57
... American citizen using a foreign bank account to waive the foreign nation's secrecy requirements . Mr. Chairman , both H.R. 15073 and S. 3678 might be interpreted to require domestic banks to make a copy of each check or draft drawn on ...
... American citizen using a foreign bank account to waive the foreign nation's secrecy requirements . Mr. Chairman , both H.R. 15073 and S. 3678 might be interpreted to require domestic banks to make a copy of each check or draft drawn on ...
Page 60
... American investors were permitted to purchase se- curities through the omnibus account of Weisscredit Bank at Shear- son , Hammill by posting as little as 20 percent of the purchase price at a time when the Federal Reserve Board ...
... American investors were permitted to purchase se- curities through the omnibus account of Weisscredit Bank at Shear- son , Hammill by posting as little as 20 percent of the purchase price at a time when the Federal Reserve Board ...
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Common terms and phrases
abroad amended American banks authority Bahamas Bernard Cornfeld bill borrowers broker-dealer brokerage Chairman checks Committee CORP corporation crime criminal currency deposit disclose disclosure dollars domestic effect Eurodollar Exchange Commission filed foreign bank accounts foreign financial agency Fund of Funds illegal interest Internal Revenue Service international transactions Investment Company investors Investors Overseas Services involved jurisdiction law enforcement legislation lender LEVAL loan margin requirements ment microfilm million monetary instruments MORGENTHAU mutual funds National Bank penalty persons provisions purchase purpose recordkeeping records registered reporting requirements ROSSIDES secrecy laws secret foreign accounts secret foreign bank Secretary Securities and Exchange Securities Exchange Act sell Senator BENNETT Senator PROXMIRE shares short selling statement Swiss bank Switzerland tax evasion taxpayers testimony tion trade U.S. banks U.S. broker U.S. citizens U.S. dollar U.S. securities United violation WILSON York Stock Exchange
Popular passages
Page 290 - broker" means any person engaged in the business of effecting transactions in securities for the account of others, but does not include a bank.
Page 15 - Whenever it appears to any person authorized by the President to exercise authority under this title that any individual or organization has engaged, is engaged, or...
Page 178 - Act, the expressed purpose of which is to require records to be maintained because they "have a high degree of usefulness in criminal, tax, and regulatory investigations and proceedings.
Page 125 - ... per centum or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by such...
Page 125 - ... any person directly or indirectly controlling, controlled by, or under common control with, such other person...
Page 151 - ... willfully fails to pay such estimated tax or tax, make such return or declaration, keep such records, or supply such information, at the time or times required by law or regulations...
Page 105 - ... by the use of means and instruments of transportation and communication in interstate commerce and of the mails...
Page 117 - The doctrine of primary jurisdiction, like the rule requiring exhaustion of administrative remedies, is concerned with promoting proper relationships between the courts and administrative agencies charged with particular regulatory duties.
Page 208 - President to exercise the authority contained in this section to enforce orders and regulations issued under this title, that any person has engaged, is engaged, or is about to engage in any acts or practices...
Page 203 - financial institution" means any person which does business in any one or more of the following capacities : (1) an insured bank as defined in section 3 of the Federal Deposit Insurance Act; 6* stat.