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- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
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- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Trump Tax Attorney: 'He Didn't Understand the Code'
An attorney who oversaw Donald Trump's income tax returns in the mid-1990s said the Republican presidential candidate had little interest in the tax code — contrasting with the billionaire's claim that he understood taxes "better than anyone" who had run for the White House. "As far as I know, and that only goes through late '96, he didn't understand the code," said Jack Mitnick, a former tax adviser for Trump. "Nor would he have had the time and the patience to learn the provisions. That's a lifetime of experience."
Mitnick oversaw Trump's income tax returns in 1995, portions of which were published Saturday by the NYTimes. The documents showed a reported loss of nearly $916 million - a deduction tax experts hired by the newspaper said was so large that Trump might have legally avoided paying federal income taxes for up to 18 years.
Trump responded to the report on Twitter: "I know our complex tax laws better than anyone who has ever run for president and am the only one who can fix them" — a stance he has repeated on the campaign trail. Mitnick, however, told the TODAY show Tuesday that Trump was "not at all" involved in the 1995 filing. "He was interested in the bottom line, not the detail."