The financial services industry waged a fierce campaign against the Department of Labor’s new so-called “fiduciary” rule requiring retirement advisers to follow a stricter standard with their clients.
Monday the U.S. Treasury took action to discourage U.S. companies from undertaking a corporate inversion for the purpose of avoiding U.S. taxes. Treasury said it was only going after “serial inverters” or companies that have engaged in multiple inversions.
The Panama Papers scandal. The Obama administration’s new rules limiting inversion. All of that has put renewed focus on U.S. companies that keep funds offshore in order to avoid paying taxes.