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 56
... believe are the major provisions of these bills and then note two signif- icant additions appearing in S. 3678 . Both H.R. 15073 and S. 3678 contain the following provisions : 1. Domestic financial institutions could be required to ...
... believe are the major provisions of these bills and then note two signif- icant additions appearing in S. 3678 . Both H.R. 15073 and S. 3678 contain the following provisions : 1. Domestic financial institutions could be required to ...
Page 60
... believe that huge amounts , probably running into the many millions of dollars , find their way into secret foreign accounts each year for the purpose of evading U.S. taxes . Some of this money is from proceeds of illegal transactions ...
... believe that huge amounts , probably running into the many millions of dollars , find their way into secret foreign accounts each year for the purpose of evading U.S. taxes . Some of this money is from proceeds of illegal transactions ...
Page 63
... believe very strongly that adequate records which are the ob- jective of this legislation could do a great deal to strengthen our hand , and we are very enthusiastic about the purposes of this legislation . Senator PROXMIRE . Thank you ...
... believe very strongly that adequate records which are the ob- jective of this legislation could do a great deal to strengthen our hand , and we are very enthusiastic about the purposes of this legislation . Senator PROXMIRE . Thank you ...
Page 66
... believe that the Treasury does either . Senator PROXMIRE . When you correct your remarks , would you check this out a little further and give us other reactions you have on that ? Mr. WILSON . Yes , sir ; I would like an opportunity to ...
... believe that the Treasury does either . Senator PROXMIRE . When you correct your remarks , would you check this out a little further and give us other reactions you have on that ? Mr. WILSON . Yes , sir ; I would like an opportunity to ...
Page 68
... believe there are countless other transactions going on undetected ? Mr. WILSON . It would indicate that . It is one of those strange combinations of circumstances that led to his undoing , but it would indicate that . I , myself , am ...
... believe there are countless other transactions going on undetected ? Mr. WILSON . It would indicate that . It is one of those strange combinations of circumstances that led to his undoing , but it would indicate that . I , myself , am ...
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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.