Post by tramp on Oct 14, 2007 8:31:12 GMT -5
millionaires.proboards86.com/index.cgi?board=main&action=display&thread=1192329397
www.investopedia.com/terms/f/fairfundsforinvestors.asp
Fair Funds for Investors
Provision introduced in 2002, under Section 308(a) of the Sarbanes-Oxley Act. Fair Funds for Investors was put into place to benefit those investors who have lost money because of the illegal or unethical activities of individuals or companies that violate securities regulations. Essentially, this provision enabled the Securities and Exchange Commission (SEC) to add civil money penalties to disgorgement funds for the relief of the victims of stock swindles.
The SEC anticipates that fair funds will play an important role in encouraging investors to continue to place trust in U.S. stock markets. Fair funds are playing an increasing role in the SEC's enforcement of regulations, and they are particularly favored when investors who have lost money can be identified and their financial losses can be calculated. So far, however, these funds have paid out little of their value.
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www.gao.gov/new.items/d07830.pdf
aug 2007, GAO makes several recommendations to strengthen SEC Enforcement’s management of the investigation process and the Fair Fund program.
ON TAXES:
Finally, determining the tax treatment of funds may also slow the
distribution process. According to Fair Fund consultants, tax information
must accompany Fair Fund distributions to investors so that recipients have some idea of how to treat their payments for tax purposes.
Consultants and Enforcement officials told us that determining
appropriate tax treatment has been time-consuming as they had no precedents upon which to draw. Depending on circumstances, an investor’s recovery of disgorged profits can constitute ordinary income or a capital gain—which can be taxed at different rates—or not represent taxable income at all.
SEC ultimately hired a consulting firm to handle tax
issues.
One Fair Fund consultant told us that obtaining tax guidance from the Internal Revenue Service delayed the plan’s distribution by about 1 year.[/b]
In response to concerns about the slow distribution of Fair Fund proceeds to harmed investors, SEC’s Chairman took two actions in 2007. First, he established an internal agency committee to examine the program’s operation.
The committee—which includes representatives from Enforcement, General Counsel, the Office of the Secretary, and the Office of the Executive Director—is assessing lessons learned in program implementation, the agency’s selection of consultants to administer the plans, and SEC’s policies and procedures for managing the program.
An Enforcement official said that the committee is expected to complete its analysis by September 30, 2007.
GAO’s Mission The Government Accountability Office, the audit, evaluation and investigative arm of Congress, exists to support Congress in meeting its constitutional responsibilities and to help improve the performance and accountability of the federal government for the American people.
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remember this thread? remember i told you we were supposed to been paid last oct 15th? connect the dots..
UCROCKS:
IRS has been the stall....money COMING!!.....cornerstone payments..3 of 'em before Dec 31st=61 cents total..plus....$1 short cover..there's your $1.61 wodan!>...be careful with your money..... remember IRS loves us!
put whats in red and bold, with the one year, what radiomo had and also acca told us, in a mp3, irs loves us.. we love the irs..
tommorrow should be good.. oct 15.. and what we heard we should be paid by..
www.investopedia.com/terms/f/fairfundsforinvestors.asp
Fair Funds for Investors
Provision introduced in 2002, under Section 308(a) of the Sarbanes-Oxley Act. Fair Funds for Investors was put into place to benefit those investors who have lost money because of the illegal or unethical activities of individuals or companies that violate securities regulations. Essentially, this provision enabled the Securities and Exchange Commission (SEC) to add civil money penalties to disgorgement funds for the relief of the victims of stock swindles.
The SEC anticipates that fair funds will play an important role in encouraging investors to continue to place trust in U.S. stock markets. Fair funds are playing an increasing role in the SEC's enforcement of regulations, and they are particularly favored when investors who have lost money can be identified and their financial losses can be calculated. So far, however, these funds have paid out little of their value.
-------------------------------------------------------------------------------------------
www.gao.gov/new.items/d07830.pdf
aug 2007, GAO makes several recommendations to strengthen SEC Enforcement’s management of the investigation process and the Fair Fund program.
ON TAXES:
Finally, determining the tax treatment of funds may also slow the
distribution process. According to Fair Fund consultants, tax information
must accompany Fair Fund distributions to investors so that recipients have some idea of how to treat their payments for tax purposes.
Consultants and Enforcement officials told us that determining
appropriate tax treatment has been time-consuming as they had no precedents upon which to draw. Depending on circumstances, an investor’s recovery of disgorged profits can constitute ordinary income or a capital gain—which can be taxed at different rates—or not represent taxable income at all.
SEC ultimately hired a consulting firm to handle tax
issues.
One Fair Fund consultant told us that obtaining tax guidance from the Internal Revenue Service delayed the plan’s distribution by about 1 year.[/b]
In response to concerns about the slow distribution of Fair Fund proceeds to harmed investors, SEC’s Chairman took two actions in 2007. First, he established an internal agency committee to examine the program’s operation.
The committee—which includes representatives from Enforcement, General Counsel, the Office of the Secretary, and the Office of the Executive Director—is assessing lessons learned in program implementation, the agency’s selection of consultants to administer the plans, and SEC’s policies and procedures for managing the program.
An Enforcement official said that the committee is expected to complete its analysis by September 30, 2007.
GAO’s Mission The Government Accountability Office, the audit, evaluation and investigative arm of Congress, exists to support Congress in meeting its constitutional responsibilities and to help improve the performance and accountability of the federal government for the American people.
-------
remember this thread? remember i told you we were supposed to been paid last oct 15th? connect the dots..
UCROCKS:
IRS has been the stall....money COMING!!.....cornerstone payments..3 of 'em before Dec 31st=61 cents total..plus....$1 short cover..there's your $1.61 wodan!>...be careful with your money..... remember IRS loves us!
put whats in red and bold, with the one year, what radiomo had and also acca told us, in a mp3, irs loves us.. we love the irs..
tommorrow should be good.. oct 15.. and what we heard we should be paid by..